Sony Group (NYSE:SONY) Shares Down 2.6%

Sony Group Co. (NYSE:SONY) traded down 2.6% during trading on Tuesday . The stock traded as low as $90.61 and last traded at $90.69. 41,278 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 821,759 shares. The stock had previously closed at $93.11.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Sony Group Stock Down 2.8 %

The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $111.65 billion, a PE ratio of 17.11 and a beta of 0.95. The business has a 50-day moving average price of $91.09 and a 200-day moving average price of $86.43.

Shares of Sony Group are going to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be payable to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Equities research analysts forecast that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Institutional Trading of Sony Group

Several hedge funds have recently made changes to their positions in SONY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Sony Group in the second quarter valued at approximately $26,000. Sunbelt Securities Inc. purchased a new position in shares of Sony Group during the 1st quarter worth $29,000. Rise Advisors LLC increased its position in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Sony Group in the 2nd quarter valued at about $41,000. Finally, Family Firm Inc. acquired a new position in Sony Group in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.