Graham Capital Management L.P. Increases Stake in Sony Group Co. (NYSE:SONY)

Graham Capital Management L.P. lifted its holdings in Sony Group Co. (NYSE:SONY) by 1,752.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,352 shares of the company’s stock after purchasing an additional 76,961 shares during the quarter. Graham Capital Management L.P.’s holdings in Sony Group were worth $1,721,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SONY. Tidal Investments LLC purchased a new position in shares of Sony Group in the third quarter valued at $244,000. Diversified Trust Co grew its holdings in shares of Sony Group by 406.6% in the fourth quarter. Diversified Trust Co now owns 10,715 shares of the company’s stock valued at $227,000 after purchasing an additional 8,600 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in shares of Sony Group by 528.0% in the fourth quarter. Aprio Wealth Management LLC now owns 14,985 shares of the company’s stock valued at $317,000 after purchasing an additional 12,599 shares in the last quarter. JTC Employer Solutions Trustee Ltd grew its holdings in shares of Sony Group by 400.0% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 4,950 shares of the company’s stock valued at $105,000 after purchasing an additional 3,960 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its holdings in shares of Sony Group by 410.8% in the fourth quarter. Eagle Bay Advisors LLC now owns 7,300 shares of the company’s stock valued at $154,000 after purchasing an additional 5,871 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SONY shares. Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They set an “outperform” rating for the company. The Goldman Sachs Group started coverage on shares of Sony Group in a research note on Tuesday, March 25th. They set a “buy” rating for the company. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $28.00.

Sony Group Stock Up 1.0%

NYSE:SONY opened at $24.70 on Monday. Sony Group Co. has a twelve month low of $15.19 and a twelve month high of $26.08. The company has a market cap of $149.38 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 9.95 and a beta of 0.97. The stock has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $22.17. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

Sony Group (NYSE:SONY) last released its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The business had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Analysts anticipate that Sony Group Co. will post 1.23 EPS for the current year.

About Sony Group

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.