Sony Group Co. (NYSE:SONY) Stock Position Boosted by Martin Investment Management LLC

Martin Investment Management LLC grew its position in Sony Group Co. (NYSE:SONY) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,359 shares of the company’s stock after buying an additional 5,475 shares during the period. Sony Group accounts for approximately 5.1% of Martin Investment Management LLC’s investment portfolio, making the stock its 8th largest position. Martin Investment Management LLC’s holdings in Sony Group were worth $20,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Sony Group in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of Sony Group in the 2nd quarter valued at approximately $41,000. Family Firm Inc. purchased a new stake in shares of Sony Group in the 2nd quarter valued at approximately $44,000. Hobbs Group Advisors LLC purchased a new position in shares of Sony Group during the 2nd quarter worth approximately $49,000. Finally, Hexagon Capital Partners LLC increased its holdings in Sony Group by 38.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 836 shares of the company’s stock valued at $81,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Price Performance

SONY stock opened at $17.74 on Tuesday. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.18. The firm has a market capitalization of $107.29 billion, a P/E ratio of 16.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The business’s 50-day moving average is $11.39 and its two-hundred day moving average is $6.22.

Sony Group (NYSE:SONY) last issued its earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. 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. Analysts anticipate that Sony Group Co. will post 1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SONY has been the subject of a number of research reports. TD Cowen dropped their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. StockNews.com lowered shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.66.

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.