Transcend Capital Advisors LLC Grows Position in Sony Group Co. (NYSE:SONY)

Transcend Capital Advisors LLC raised its position in Sony Group Co. (NYSE:SONY) by 153.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,033 shares of the company’s stock after purchasing an additional 10,303 shares during the period. Transcend Capital Advisors LLC’s holdings in Sony Group were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of Sony Group in the 3rd quarter valued at $1,418,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sony Group by 68.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after acquiring an additional 7,781 shares during the period. Diversify Advisory Services LLC increased its holdings in shares of Sony Group by 348.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 19,214 shares of the company’s stock valued at $1,855,000 after acquiring an additional 14,930 shares during the period. Diversify Wealth Management LLC increased its holdings in shares of Sony Group by 511.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 50,399 shares of the company’s stock valued at $4,867,000 after acquiring an additional 42,156 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Sony Group by 9.8% in the 3rd quarter. US Bancorp DE now owns 127,457 shares of the company’s stock valued at $12,309,000 after acquiring an additional 11,375 shares during the period. 14.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SONY shares. Sanford C. Bernstein started coverage on shares of Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating on the stock. Oppenheimer reiterated an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday. Finally, StockNews.com lowered shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $28.00.

Sony Group Stock Performance

NYSE:SONY opened at $24.81 on Monday. The firm has a market cap of $150.01 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. Sony Group Co. has a 1-year low of $15.02 and a 1-year high of $25.29. The firm’s fifty day moving average price is $21.74 and its 200 day moving average price is $16.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

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

Sony Group Company Profile

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.