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Benson Investment Management Company Inc. Invests $5.56 Million in Sony Corporation $SONY

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Key Points

  • Benson Investment Management bought a new position of 217,150 shares of Sony (NYSE:SONY) in Q4, valued at approximately $5.56 million.
  • Japan will provide up to ¥60 billion (~$380M) in subsidies for Sony’s Kumamoto image-sensor factory, reducing capex risk and supporting its high-margin sensor business, while a recent PS5 price increase reportedly sparked "panic buying" and pushed console sales to record levels for the year.
  • Analyst coverage is mixed: the consensus rating is Hold with an average price target of $22.00 (three Buys, two Holds, one Sell), implying limited near-term upside from current levels.
  • Five stocks we like better than Sony.

Benson Investment Management Company Inc. bought a new position in shares of Sony Corporation (NYSE:SONY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 217,150 shares of the company's stock, valued at approximately $5,559,000.

A number of other large investors also recently made changes to their positions in the company. HighPoint Advisor Group LLC boosted its position in shares of Sony by 2.8% during the 3rd quarter. HighPoint Advisor Group LLC now owns 13,670 shares of the company's stock valued at $394,000 after purchasing an additional 367 shares in the last quarter. West Family Investments Inc. lifted its holdings in Sony by 1.1% during the third quarter. West Family Investments Inc. now owns 34,228 shares of the company's stock worth $985,000 after acquiring an additional 385 shares during the period. Checchi Capital Advisers LLC raised its position in Sony by 1.3% in the third quarter. Checchi Capital Advisers LLC now owns 30,408 shares of the company's stock worth $875,000 after acquiring an additional 391 shares during the period. Baker Tilly Wealth Management LLC raised its position in Sony by 3.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company's stock worth $298,000 after acquiring an additional 409 shares during the period. Finally, Glenmede Investment Management LP raised its stake in shares of Sony by 1.0% in the third quarter. Glenmede Investment Management LP now owns 42,478 shares of the company's stock valued at $1,223,000 after buying an additional 416 shares during the period. Institutional investors own 14.05% of the company's stock.

Sony News Roundup

Here are the key news stories impacting Sony this week:

Sony Trading Up 1.2%

Sony stock opened at $21.72 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $21.51 and its two-hundred day simple moving average is $24.97. Sony Corporation has a 12 month low of $19.74 and a 12 month high of $30.34. The company has a market capitalization of $129.19 billion, a price-to-earnings ratio of -108.57, a price-to-earnings-growth ratio of 7.16 and a beta of 0.98.

Analysts Set New Price Targets

A number of research firms recently weighed in on SONY. Weiss Ratings lowered shares of Sony from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, February 20th. Zacks Research lowered Sony from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 12th. Finally, 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 note on Tuesday, March 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $22.00.

View Our Latest Stock Analysis on Sony

Sony 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.

Further Reading

Institutional Ownership by Quarter for Sony (NYSE:SONY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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