Pekin Hardy Strauss Inc. Trims Stock Position in Sony Group Co. (NYSE:SONY)

Pekin Hardy Strauss Inc. reduced its stake in Sony Group Co. (NYSE:SONY) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,894 shares of the company’s stock after selling 4,666 shares during the period. Sony Group accounts for 1.0% of Pekin Hardy Strauss Inc.’s portfolio, making the stock its 20th largest position. Pekin Hardy Strauss Inc.’s holdings in Sony Group were worth $7,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SONY. SG Americas Securities LLC increased its stake in shares of Sony Group by 2,317.1% in the 4th quarter. SG Americas Securities LLC now owns 54,143 shares of the company’s stock worth $5,127,000 after acquiring an additional 51,903 shares in the last quarter. Fifth Third Bancorp raised its position in Sony Group by 290.8% in the 4th quarter. Fifth Third Bancorp now owns 44,095 shares of the company’s stock worth $4,175,000 after buying an additional 32,811 shares during the last quarter. Cerity Partners LLC lifted its stake in Sony Group by 103.2% during the 4th quarter. Cerity Partners LLC now owns 38,183 shares of the company’s stock valued at $3,616,000 after acquiring an additional 19,395 shares during the period. XY Capital Ltd bought a new position in Sony Group during the 3rd quarter valued at about $876,000. Finally, Bleakley Financial Group LLC boosted its holdings in shares of Sony Group by 25.3% during the 4th quarter. Bleakley Financial Group LLC now owns 7,178 shares of the company’s stock valued at $680,000 after acquiring an additional 1,450 shares during the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Performance

Sony Group stock traded down $0.42 during trading on Tuesday, reaching $82.57. The company had a trading volume of 463,995 shares, compared to its average volume of 766,256. The firm has a market capitalization of $101.91 billion, a price-to-earnings ratio of 16.02 and a beta of 0.98. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $85.58 and its 200 day simple moving average is $88.88. Sony Group Co. has a 52 week low of $79.62 and a 52 week high of $100.94.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.32. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. The business had revenue of $25.38 billion during the quarter, compared to analysts’ expectations of $24.31 billion. Sell-side analysts forecast that Sony Group Co. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research report on Monday, February 26th. Macquarie lowered shares of Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Finally, TheStreet upgraded shares of Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

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.