Sony Group Co. (NYSE:SONY) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in Sony Group Co. (NYSE:SONY) by 26.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,905 shares of the company’s stock after acquiring an additional 4,586 shares during the quarter. Naviter Wealth LLC’s holdings in Sony Group were worth $2,074,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. CVA Family Office LLC acquired a new stake in Sony Group during the fourth quarter valued at $27,000. Fortitude Family Office LLC bought a new position in shares of Sony Group during the 4th quarter worth approximately $31,000. Pinnacle Bancorp Inc. bought a new stake in Sony Group during the fourth quarter worth about $39,000. NBC Securities Inc. acquired a new stake in shares of Sony Group in the third quarter valued at $51,000. Finally, VisionPoint Advisory Group LLC acquired a new position in Sony Group during the 3rd quarter worth $73,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Up 0.8 %

Shares of NYSE SONY traded up $0.67 during mid-day trading on Monday, reaching $83.00. 251,894 shares of the company’s stock were exchanged, compared to its average volume of 764,822. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94. The business has a fifty day simple moving average of $85.70 and a 200 day simple moving average of $88.91. The firm has a market capitalization of $102.44 billion, a price-to-earnings ratio of 15.89 and a beta of 0.98.

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

Analyst Ratings Changes

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