Alight Capital Management LP Buys New Position in Sony Corporation $SONY

Key Points

• Alight Capital Management LP has acquired a new stake in Sony Corporation, purchasing 200,000 shares valued at approximately $5.08 million, making it the 14th largest position in their portfolio.
• Analysts have revised Sony's rating from "buy" to "hold," with a consensus price target set at $28.00, despite one analyst still rating it as a strong buy.
• In its most recent earnings report, Sony reported $0.30 EPS, exceeding forecasts, but fell short of revenue expectations, generating $17.79 billion against a predicted $18.88 billion.

Alight Capital Management LP acquired a new stake in shares of Sony Corporation (NYSE:SONY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 200,000 shares of the company's stock, valued at approximately $5,078,000. Sony accounts for 2.4% of Alight Capital Management LP's portfolio, making the stock its 14th biggest holding.

A number of other large investors also recently bought and sold shares of SONY. Brighton Jones LLC boosted its holdings in Sony by 422.0% during 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 during the period. Ameriprise Financial Inc. boosted its holdings in Sony by 386.6% during the 4th quarter. Ameriprise Financial Inc. now owns 917,856 shares of the company's stock valued at $19,424,000 after acquiring an additional 729,218 shares during the period. Benjamin Edwards Inc. boosted its holdings in Sony by 415.8% during the 4th quarter. Benjamin Edwards Inc. now owns 21,510 shares of the company's stock valued at $455,000 after acquiring an additional 17,340 shares during the period. Bank of America Corp DE boosted its holdings in Sony by 377.7% during the 4th quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock valued at $503,713,000 after acquiring an additional 18,821,902 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Sony during the 4th quarter valued at $855,000. Hedge funds and other institutional investors own 14.05% of the company's stock.

Sony Stock Down 1.0%

Shares of SONY stock traded down $0.29 during mid-day trading on Friday, hitting $27.56. The stock had a trading volume of 2,620,164 shares, compared to its average volume of 3,499,242. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $29.16. The firm has a market capitalization of $166.64 billion, a P/E ratio of 21.87 and a beta of 0.94. The firm's 50-day moving average is $26.05 and its two-hundred day moving average is $25.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

Sony (NYSE:SONY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The firm had revenue of $17.79 billion during the quarter, compared to analysts' expectations of $18.88 billion. Sony had a return on equity of 13.88% and a net margin of 9.14%.During the same period in the prior year, the business posted $189.90 EPS. Sony has set its FY 2025 guidance at EPS. On average, analysts predict that Sony Corporation will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Sony from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $28.00.

Sony Company 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.