Ovata Capital Management Ltd Purchases 32,795 Shares of Sony Group Co. (NYSE:SONY)

Ovata Capital Management Ltd lifted its position in Sony Group Co. (NYSE:SONY) by 288.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 44,165 shares of the company’s stock after buying an additional 32,795 shares during the period. Sony Group accounts for 0.4% of Ovata Capital Management Ltd’s portfolio, making the stock its 26th biggest position. Ovata Capital Management Ltd’s holdings in Sony Group were worth $949,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Primecap Management Co. CA raised its holdings in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock valued at $2,158,232,000 after purchasing an additional 80,724,932 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after buying an additional 36,783,737 shares during the period. Mondrian Investment Partners LTD boosted its position in Sony Group by 358.2% during the 4th quarter. Mondrian Investment Partners LTD now owns 10,138,119 shares of the company’s stock valued at $223,039,000 after acquiring an additional 7,925,643 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Sony Group by 383.5% in the 4th quarter. Clearbridge Investments LLC now owns 5,929,924 shares of the company’s stock valued at $125,477,000 after acquiring an additional 4,703,571 shares during the period. Finally, Sei Investments Co. raised its position in shares of Sony Group by 362.7% in the 4th quarter. Sei Investments Co. now owns 3,245,587 shares of the company’s stock worth $68,677,000 after acquiring an additional 2,544,193 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Sony Group Price Performance

Shares of SONY stock opened at $21.81 on Friday. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market capitalization of $131.90 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 9.95 and a beta of 0.94. The stock’s 50-day simple moving average is $23.90 and its 200-day simple moving average is $20.20.

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. The company had revenue of $28.95 billion for the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, equities analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SONY shares. Sanford C. Bernstein initiated coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. The Goldman Sachs Group initiated coverage on shares of Sony Group in a research note on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sony Group presently has an average rating of “Buy” and a consensus price target of $28.00.

Sony Group Company Profile

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.