QRG Capital Management Inc. Has $7.49 Million Stock Holdings in Sony Corporation $SONY

QRG Capital Management Inc. trimmed its position in shares of Sony Corporation (NYSE:SONY) by 8.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,696 shares of the company’s stock after selling 31,865 shares during the period. QRG Capital Management Inc.’s holdings in Sony were worth $7,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Oxbow Advisors LLC acquired a new position in Sony in the 1st quarter worth about $3,018,000. Private Advisor Group LLC lifted its holdings in shares of Sony by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 38,079 shares of the company’s stock valued at $788,000 after buying an additional 1,545 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Sony by 338.7% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 295,454 shares of the company’s stock valued at $6,116,000 after buying an additional 228,108 shares in the last quarter. Keybank National Association OH grew its stake in shares of Sony by 31.2% in the 1st quarter. Keybank National Association OH now owns 135,426 shares of the company’s stock valued at $2,803,000 after buying an additional 32,197 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its holdings in Sony by 3.1% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 41,568 shares of the company’s stock worth $860,000 after buying an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kenichiro Yoshida sold 400,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $22.61, for a total transaction of $9,044,000.00. Following the completion of the sale, the director directly owned 661,615 shares of the company’s stock, valued at approximately $14,959,115.15. This represents a 37.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tsuyoshi Kodera sold 51,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the completion of the transaction, the insider owned 27,553 shares in the company, valued at $565,938.62. The trade was a 64.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 468,500 shares of company stock valued at $10,487,215 over the last 90 days. 7.00% of the stock is owned by corporate insiders.

Sony Stock Down 0.0%

Shares of SONY stock opened at $20.79 on Friday. The stock’s 50 day simple moving average is $21.09 and its 200 day simple moving average is $22.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. Sony Corporation has a twelve month low of $19.32 and a twelve month high of $30.34. The company has a market capitalization of $122.81 billion, a price-to-earnings ratio of -103.93, a PEG ratio of 1.65 and a beta of 0.94.

Sony (NYSE:SONY) last announced its earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company had revenue of $19.15 billion for the quarter, compared to the consensus estimate of $18.43 billion. During the same period in the previous year, the company earned $32.86 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Sony Corporation will post 1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SONY. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Benchmark restated a “buy” rating on shares of Sony in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Key Stories Impacting Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s shift away from physical PlayStation discs could improve margins over time by reducing manufacturing, packaging, and logistics costs, and it signals a more digital-focused business model for future console generations. Sony is first console giant to stop making physical games
• Positive Sentiment: One report noted Sony’s stock climbed after the all-digital announcement, suggesting investors may be focusing on the long-term financial benefits of the transition rather than the fan backlash. Sony Stock Climbs After PlayStation’s All-Digital Announcement Despite Fan Backlash
• Neutral Sentiment: Former Sony leadership comments that PlayStation’s disc-less strategy could influence Xbox and Nintendo reinforce the idea that Sony is setting an industry trend, but this is more of a strategic headline than an immediate earnings catalyst. PlayStation’s disc-less future could heavily influence Xbox and Nintendo, former Sony boss says
• Negative Sentiment: The move has triggered strong backlash from gamers and media coverage portraying Sony as abandoning physical ownership, which could create reputational noise and pressure around the PlayStation brand in the near term. Brands smell blood in the water after PlayStation axes game discs — and they’re roasting Sony for it

About Sony

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.