Fosun International Ltd Sells 2,330 Shares of Sony Group Co. (NYSE:SONY)

Fosun International Ltd reduced its position in shares of Sony Group Co. (NYSE:SONY) by 35.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,250 shares of the company’s stock after selling 2,330 shares during the quarter. Fosun International Ltd’s holdings in Sony Group were worth $402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SONY. Fisher Asset Management LLC grew its position in shares of Sony Group by 5.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,359,171 shares of the company’s stock worth $602,150,000 after buying an additional 342,025 shares during the period. Morgan Stanley grew its holdings in Sony Group by 0.4% in the 3rd quarter. Morgan Stanley now owns 4,181,880 shares of the company’s stock valued at $344,629,000 after buying an additional 15,415 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Sony Group by 1.0% during the 3rd quarter. Royal Bank of Canada now owns 1,213,293 shares of the company’s stock worth $99,987,000 after purchasing an additional 12,467 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Sony Group by 39.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,067,247 shares of the company’s stock worth $87,952,000 after buying an additional 299,300 shares during the last quarter. Finally, Sei Investments Co. raised its position in Sony Group by 0.5% in the third quarter. Sei Investments Co. now owns 526,865 shares of the company’s stock valued at $43,419,000 after purchasing an additional 2,459 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Sony Group Stock Performance

Shares of Sony Group stock traded down $1.39 on Thursday, reaching $76.96. 304,667 shares of the stock were exchanged, compared to its average volume of 765,821. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $85.00 and a two-hundred day moving average price of $88.76. Sony Group Co. has a 1-year low of $76.63 and a 1-year high of $100.94. The firm has a market capitalization of $94.99 billion, a PE ratio of 15.13 and a beta of 0.95.

Sony Group (NYSE:SONY) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.32. The business had revenue of $25.38 billion for the quarter, compared to the consensus estimate of $24.31 billion. Sony Group had a net margin of 7.62% and a return on equity of 12.43%. As a group, research analysts anticipate that Sony Group Co. will post 5.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TheStreet upgraded Sony Group from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Oppenheimer reissued an “outperform” rating and issued a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Finally, Macquarie lowered Sony Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.00.

Sony Group Profile

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.