Ieq Capital LLC Buys 26,419 Shares of Sony Group Co. (NYSE:SONY)

Ieq Capital LLC increased its stake in shares of Sony Group Co. (NYSE:SONY) by 411.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,837 shares of the company’s stock after acquiring an additional 26,419 shares during the period. Ieq Capital LLC’s holdings in Sony Group were worth $695,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SONY. Private Advisor Group LLC grew its holdings in Sony Group by 299.1% during the fourth quarter. Private Advisor Group LLC now owns 24,566 shares of the company’s stock valued at $520,000 after purchasing an additional 18,410 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in shares of Sony Group by 2,503.5% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 59,516 shares of the company’s stock worth $1,259,000 after buying an additional 57,230 shares during the period. Alberta Investment Management Corp grew its stake in Sony Group by 255.7% in the 4th quarter. Alberta Investment Management Corp now owns 1,000,000 shares of the company’s stock valued at $21,160,000 after buying an additional 718,840 shares during the last quarter. Global Retirement Partners LLC raised its holdings in Sony Group by 405.2% in the 4th quarter. Global Retirement Partners LLC now owns 19,538 shares of the company’s stock worth $413,000 after acquiring an additional 15,671 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its position in Sony Group by 400.0% during the 4th quarter. Wilkinson Global Asset Management LLC now owns 13,650 shares of the company’s stock worth $289,000 after acquiring an additional 10,920 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SONY. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. 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 MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $28.00.

Sony Group Stock Performance

NYSE:SONY opened at $25.08 on Wednesday. The firm’s 50-day moving average is $21.88 and its 200-day moving average is $16.34. The company has a market cap of $151.65 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 9.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.29.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Equities research analysts anticipate that Sony Group Co. will post 1.23 earnings per share for the current year.

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.