Sony (NYSE:SONY) Hits New 1-Year Low – Time to Sell?

Sony Corporation (NYSE:SONY) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $19.62 and last traded at $19.7430, with a volume of 1994224 shares. The stock had previously closed at $20.33.

Analyst Ratings Changes

SONY has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating on shares of Sony in a report on Monday, May 11th. Sanford C. Bernstein restated a “market perform” rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a research report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sony in a research note 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.00.

Sony Stock Down 3.8%

The business’s 50 day moving average price is $21.32 and its 200-day moving average price is $22.65. The firm has a market capitalization of $115.53 billion, a PE ratio of -97.82, a P/E/G ratio of 1.62 and a beta of 0.93. 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 (NYSE:SONY) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.09 earnings per share 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 analysts’ expectations of $18.43 billion. During the same period in the previous year, the business posted $32.86 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Sony Corporation will post 1.28 earnings per share for the current year.

Insider Buying and Selling at Sony

In other news, Director Kenichiro Yoshida sold 400,000 shares of the firm’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 transaction, the director directly owned 661,615 shares in the company, valued at $14,959,115.15. This trade represents a 37.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tsuyoshi Kodera sold 51,000 shares of Sony stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $20.54, for a total value of $1,047,540.00. Following the completion of the sale, the insider directly owned 27,553 shares of the company’s stock, valued at $565,938.62. The trade was a 64.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 468,500 shares of company stock valued at $10,487,215. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Sony

Institutional investors have recently bought and sold shares of the company. YANKCOM Partnership lifted its position in shares of Sony by 748.7% during the fourth quarter. YANKCOM Partnership now owns 976 shares of the company’s stock worth $25,000 after purchasing an additional 861 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Sony during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new stake in Sony during the 4th quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Sony by 404.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company’s stock worth $28,000 after buying an additional 889 shares in the last quarter. Finally, Twin Tree Management LP lifted its holdings in Sony by 4,218.5% during the 4th quarter. Twin Tree Management LP now owns 1,112 shares of the company’s stock worth $28,000 after buying an additional 1,139 shares in the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Company Profile

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.