Sony Group (NYSE:SONY) Sees Strong Trading Volume – Here’s What Happened

Shares of Sony Group Co. (NYSE:SONY) saw unusually-strong trading volume on Monday . Approximately 4,877,318 shares were traded during mid-day trading, an increase of 20% from the previous session’s volume of 4,070,174 shares.The stock last traded at $24.40 and had previously closed at $24.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SONY. Oppenheimer reaffirmed an “outperform” rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a research report on Thursday, February 20th. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research report on Thursday, January 16th. They issued an “outperform” rating for the company. One equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $28.00.

Sony Group Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The company has a 50 day simple moving average of $22.67 and a 200-day simple moving average of $18.22. The stock has a market cap of $147.59 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 9.95 and a beta of 0.91.

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, topping 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 during the quarter, compared to analyst estimates of $24.32 billion. On average, equities analysts expect that Sony Group Co. will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sony Group

Hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its holdings in shares of Sony Group by 379.5% in the fourth quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after buying an additional 80,724,932 shares during the period. Aristotle Capital Management LLC increased its holdings in shares of Sony Group by 393.7% in the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock worth $1,116,653,000 after buying an additional 42,083,842 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Sony Group by 425.9% in the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company’s stock worth $961,089,000 after buying an additional 36,783,737 shares during the period. Bank of America Corp DE increased its holdings in shares of Sony Group by 377.7% in the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after buying an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI increased its holdings in shares of Sony Group by 377.2% in the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock worth $218,382,000 after buying an additional 8,157,776 shares during the period. Institutional investors own 14.05% of the company’s stock.

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.