Founders Capital Management Boosts Holdings in Sony Group Co. (NYSE:SONY)

Founders Capital Management lifted its stake in shares of Sony Group Co. (NYSE:SONY) by 400.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,005 shares of the company’s stock after buying an additional 1,604 shares during the period. Founders Capital Management’s holdings in Sony Group were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SONY. Fisher Asset Management LLC raised its holdings in shares of Sony Group by 12.7% during the third quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock valued at $834,013,000 after acquiring an additional 972,075 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Sony Group during the third quarter worth $109,462,000. Marshall Wace LLP raised its position in shares of Sony Group by 8,495.0% in the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after buying an additional 838,543 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Sony Group by 0.5% in the third quarter. Thrivent Financial for Lutherans now owns 637,656 shares of the company’s stock worth $61,579,000 after buying an additional 2,974 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Sony Group by 3.5% during the second quarter. Sei Investments Co. now owns 611,514 shares of the company’s stock worth $51,946,000 after acquiring an additional 20,802 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SONY. Oppenheimer cut their price target on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. StockNews.com downgraded shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, TD Cowen cut their target price on Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $24.00.

Sony Group Stock Down 1.0 %

Shares of NYSE:SONY traded down $0.20 during trading on Monday, hitting $20.15. The company’s stock had a trading volume of 1,114,569 shares, compared to its average volume of 2,880,409. The company has a market capitalization of $121.86 billion, a PE ratio of 16.49, a P/E/G ratio of 13.74 and a beta of 0.95. The business has a 50 day moving average price of $20.26 and a two-hundred day moving average price of $12.10. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $22.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66.

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.