Renaissance Group LLC Trims Position in Sony Corporation $SONY

Renaissance Group LLC trimmed its holdings in Sony Corporation (NYSE:SONY) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 266,623 shares of the company’s stock after selling 25,466 shares during the period. Renaissance Group LLC’s holdings in Sony were worth $6,826,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC increased its stake in shares of Sony by 3.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 58,334 shares of the company’s stock worth $1,493,000 after acquiring an additional 1,944 shares during the period. Marks Group Wealth Management Inc increased its stake in shares of Sony by 4.2% during the fourth quarter. Marks Group Wealth Management Inc now owns 81,534 shares of the company’s stock worth $2,087,000 after acquiring an additional 3,293 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Sony during the fourth quarter worth about $536,000. Cerity Partners LLC increased its stake in shares of Sony by 0.7% during the fourth quarter. Cerity Partners LLC now owns 666,508 shares of the company’s stock worth $17,063,000 after acquiring an additional 4,758 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Sony by 24.4% during the fourth quarter. LPL Financial LLC now owns 940,345 shares of the company’s stock worth $24,073,000 after acquiring an additional 184,174 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Trading Down 2.5%

Shares of SONY opened at $20.78 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $21.40 and its two-hundred day moving average is $23.07. Sony Corporation has a twelve month low of $19.63 and a twelve month high of $30.34. The firm has a market capitalization of $123.60 billion, a P/E ratio of -103.87, a PEG ratio of 1.70 and a beta of 0.93.

Sony (NYSE:SONY) last issued its earnings results on Friday, May 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.13). Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company had revenue of $19.15 billion for the quarter, compared to analyst estimates of $18.43 billion. During the same quarter in the previous year, the company posted $32.86 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts predict that Sony Corporation will post 1.28 earnings per share for the current fiscal year.

Key Headlines Impacting Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony Electronics expanded its professional display lineup with a new 135-inch Crystal LED UNIFY system, highlighting continued investment in higher-end commercial AV products that could support revenue growth. Sony Electronics Expands Professional Display Lineup with Crystal LED UNIFY, a 135-inch All-in-One Direct View Option
• Positive Sentiment: Sony Semiconductor Solutions announced a new X-ray CMOS sensor with industry-leading imaging and low-noise performance, reinforcing Sony’s strength in imaging and sensor technology. Sony Semiconductor Solutions to Release X-ray CMOS Sensor with Industry’s Fastest Imaging and Low-Noise Performance
• Positive Sentiment: Media coverage of Sony’s products, including early Prime Day TV and headphone deals, may help stimulate consumer demand for Sony’s audio and entertainment hardware. Best Buy Is Selling Sony’s Popular Noise-Canceling Headphones for Only $100
• Positive Sentiment: Zacks highlighted Sony as one of the audio-video stocks to watch, saying industry participants may benefit from investment in cutting-edge solutions despite macro headwinds. 3 Audio Video Stocks to Watch as Industry Witnesses Headwinds
• Neutral Sentiment: Sony is getting product-review and marketing attention for its new surround system and 135-inch display, which supports brand visibility but does not directly change fundamentals. I tried Sony’s new surround system – it asks big questions of Samsung and LG
• Neutral Sentiment: Sony Pictures Television promoted Devon Hammonds to head of nonfiction, a routine management move with limited immediate stock impact. Sony Pictures Television Promotes Devon Hammonds To Head Of Nonfiction
• Negative Sentiment: Sony’s planned Helldivers movie lost Jason Momoa as its lead, creating uncertainty around a high-profile film project and adding a small negative overhang for the entertainment segment. Jason Momoa Exits Justin Lin-Directed Sony Feature ‘Helldivers’

Insider Activity

In other Sony news, insider Tsuyoshi Kodera sold 17,500 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $395,675.00. Following the transaction, the insider directly owned 27,553 shares in the company, valued at approximately $622,973.33. This represents a 38.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenichiro Yoshida sold 400,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the transaction, the director owned 661,615 shares in the company, valued at $14,959,115.15. The trade was a 37.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SONY. Benchmark reiterated a “buy” rating on shares of Sony in a research note on Monday, May 11th. Sanford C. Bernstein reiterated a “market perform” rating and set a $22.00 price target (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sony presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Sony Company Profile

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.