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

Shares of Sony Group Co. (NYSE:SONY) saw unusually-strong trading volume on Tuesday . Approximately 6,071,467 shares changed hands during mid-day trading, an increase of 52% from the previous session’s volume of 3,994,117 shares.The stock last traded at $24.76 and had previously closed at $25.39.

Analyst Ratings Changes

SONY has been the subject of several analyst reports. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 target price (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein began coverage on shares of Sony Group in a research report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group started coverage on shares of Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Sony Group presently has a consensus rating of “Buy” and a consensus target price of $28.00.

Sony Group Price Performance

The stock has a market cap of $150.41 billion, a PE ratio of 20.19, a PEG ratio of 9.95 and a beta of 0.91. 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 firm has a 50-day moving average of $23.84 and a 200-day moving average of $20.06.

Sony Group (NYSE:SONY) last released its quarterly 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 during the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Research analysts predict that Sony Group Co. will post 1.23 EPS for the current year.

Institutional Trading of Sony Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its stake in shares of Sony Group by 379.5% during the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company’s stock worth $2,158,232,000 after purchasing an additional 80,724,932 shares during the last quarter. Aristotle Capital Management LLC boosted its holdings in shares of Sony Group by 393.7% in the 4th quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company’s stock valued at $1,116,653,000 after buying an additional 42,083,842 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Sony Group by 425.9% in the 4th 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 last quarter. Bank of America Corp DE raised its stake in shares of Sony Group by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company’s stock worth $503,713,000 after acquiring an additional 18,821,902 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in Sony Group by 377.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company’s stock valued at $218,382,000 after acquiring an additional 8,157,776 shares during the last quarter. 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.