Ridgewood Investments LLC Invests $41,000 in Sony Group Co. (NYSE:SONY)

Ridgewood Investments LLC bought a new position in shares of Sony Group Co. (NYSE:SONY) during the second quarter, Holdings Channel.com reports. The fund bought 484 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Sony Group during the second quarter valued at approximately $26,000. Sunbelt Securities Inc. purchased a new position in Sony Group in the first quarter valued at approximately $29,000. Rise Advisors LLC grew its stake in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after acquiring an additional 254 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in Sony Group in the 4th quarter valued at about $34,000. Finally, Family Firm Inc. bought a new position in Sony Group in the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Up 0.5 %

Shares of NYSE SONY traded up $0.50 during mid-day trading on Friday, hitting $97.31. 103,334 shares of the stock traded hands, compared to its average volume of 838,804. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.47 and a current ratio of 0.63. Sony Group Co. has a 52 week low of $75.11 and a 52 week high of $100.88. The company has a market cap of $120.10 billion, a price-to-earnings ratio of 17.80 and a beta of 0.94. The stock has a fifty day moving average price of $88.79 and a 200-day moving average price of $86.06.

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

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. Research analysts anticipate that Sony Group Co. will post 5.68 EPS for the current year.

Analyst Ratings Changes

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

About Sony Group

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.