Mediolanum International Funds Ltd Acquires New Position in Sony Group Co. (NYSE:SONY)

Mediolanum International Funds Ltd bought a new stake in Sony Group Co. (NYSE:SONY) during the 3rd quarter, Holdings Channel reports. The firm bought 1,133,500 shares of the company’s stock, valued at approximately $109,462,000. Sony Group accounts for about 1.4% of Mediolanum International Funds Ltd’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Sony Group in the 2nd quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new position in shares of Sony Group in the 1st quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in shares of Sony Group in the 2nd quarter worth approximately $41,000. Family Firm Inc. acquired a new position in shares of Sony Group in the 2nd quarter worth approximately $44,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Sony Group in the 2nd quarter worth approximately $49,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SONY has been the topic of several recent research reports. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, TD Cowen cut their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Two equities research analysts have 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.com, Sony Group currently has an average rating of “Moderate Buy” and an average target price of $13.66.

Sony Group Stock Performance

Shares of SONY stock traded down $0.03 during mid-day trading on Friday, hitting $17.66. The stock had a trading volume of 764,370 shares, compared to its average volume of 3,916,024. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $20.18. The firm has a market cap of $106.80 billion, a PE ratio of 16.45 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The company’s 50-day simple moving average is $9.42 and its 200-day simple moving average is $5.48.

Sony Group (NYSE:SONY) last released its earnings results on Wednesday, August 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. Sell-side analysts anticipate that Sony Group Co. will post 0.6 earnings per share for the current year.

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.