Sony Corporation $SONY Stake Boosted by Boothbay Fund Management LLC

Boothbay Fund Management LLC increased its position in shares of Sony Corporation (NYSE:SONYFree Report) by 176.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,549 shares of the company’s stock after acquiring an additional 305,506 shares during the quarter. Boothbay Fund Management LLC’s holdings in Sony were worth $13,777,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SONY. Arkos Global Advisors acquired a new position in Sony during the third quarter valued at $305,000. Alliancebernstein L.P. boosted its position in Sony by 10.5% during the 3rd quarter. Alliancebernstein L.P. now owns 13,641 shares of the company’s stock worth $393,000 after acquiring an additional 1,295 shares during the period. Ameriprise Financial Inc. boosted its position in Sony by 3.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,083,838 shares of the company’s stock worth $60,221,000 after acquiring an additional 75,766 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Sony during the 3rd quarter valued at about $1,220,000. Finally, Creative Planning increased its holdings in shares of Sony by 4.0% in the 3rd quarter. Creative Planning now owns 1,791,791 shares of the company’s stock valued at $51,586,000 after purchasing an additional 69,246 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SONY. Zacks Research lowered shares of Sony from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Sony to a “hold” rating in a report on Saturday, December 6th. Nomura raised shares of Sony from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 19th. Sanford C. Bernstein reiterated an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of Sony in a report on Wednesday, January 14th. Finally, Weiss Ratings cut Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Sony currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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Sony Price Performance

NYSE:SONY opened at $21.51 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97. Sony Corporation has a one year low of $20.42 and a one year high of $30.34. The company has a fifty day moving average price of $22.84 and a 200 day moving average price of $26.31. The stock has a market cap of $130.05 billion, a P/E ratio of -107.52, a PEG ratio of 7.63 and a beta of 0.94.

Sony Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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