Clark Capital Management Group Inc. Takes Position in Sony Corporation $SONY

Clark Capital Management Group Inc. purchased a new stake in shares of Sony Corporation (NYSE:SONYFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,874,551 shares of the company’s stock, valued at approximately $47,989,000.

Several other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in shares of Sony by 422.0% in the 4th quarter. Brighton Jones LLC now owns 19,908 shares of the company’s stock valued at $421,000 after acquiring an additional 16,094 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Sony by 26.7% in the 1st quarter. AQR Capital Management LLC now owns 178,889 shares of the company’s stock valued at $4,542,000 after acquiring an additional 37,677 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Sony by 23.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 22,013 shares of the company’s stock valued at $573,000 after acquiring an additional 4,172 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Sony by 24.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 16,501 shares of the company’s stock valued at $430,000 after acquiring an additional 3,255 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Sony in the 2nd quarter valued at approximately $26,058,000. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony News Summary

Here are the key news stories impacting Sony this week:

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on SONY

Sony Price Performance

Shares of NYSE:SONY opened at $20.39 on Wednesday. Sony Corporation has a 1-year low of $19.63 and a 1-year high of $30.34. The firm has a market capitalization of $120.44 billion, a PE ratio of -101.92, a PEG ratio of 1.62 and a beta of 0.93. The business’s 50 day moving average is $21.36 and its 200-day moving average is $22.84. The company has a current ratio of 1.18, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10.

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

Insiders Place Their Bets

In other news, Director Kenichiro Yoshida sold 400,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was 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 owned 661,615 shares in the company, valued at $14,959,115.15. The trade was a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tsuyoshi Kodera sold 17,500 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $22.61, for a total value of $395,675.00. Following the sale, the insider owned 27,553 shares of the company’s stock, valued at approximately $622,973.33. The trade was a 38.84% decrease in their position. The SEC filing for this sale provides additional information. 7.00% of the stock is currently owned by insiders.

Sony Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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