Ovata Capital Management Ltd Sells 685 Shares of Sony Group Co. (NYSE:SONY)

Ovata Capital Management Ltd lessened its holdings in shares of Sony Group Co. (NYSE:SONY) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,170 shares of the company’s stock after selling 685 shares during the period. Ovata Capital Management Ltd’s holdings in Sony Group were worth $524,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of SONY. Harding Loevner LP grew its holdings in Sony Group by 2,206.6% during the 4th quarter. Harding Loevner LP now owns 2,280,016 shares of the company’s stock worth $219,419,000 after acquiring an additional 2,181,169 shares during the period. Mondrian Investment Partners LTD increased its stake in Sony Group by 43.4% in the first quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after purchasing an additional 774,502 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Sony Group by 5.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,358,712 shares of the company’s stock worth $602,106,000 after acquiring an additional 341,566 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Sony Group by 26.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,344,784 shares of the company’s stock worth $127,338,000 after purchasing an additional 277,537 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Sony Group during the second quarter valued at about $18,567,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 0.1 %

NYSE SONY opened at $94.36 on Friday. The stock has a market capitalization of $116.46 billion, a PE ratio of 17.35 and a beta of 0.94. Sony Group Co. has a 1 year low of $75.11 and a 1 year high of $100.88. The business’s 50-day moving average is $90.16 and its 200 day moving average is $86.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47.

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

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sony Group has an average rating of “Moderate Buy” and a consensus price target of $108.00.

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.