Dorsey Wright & Associates Takes $1.43 Million Position in Sony Corporation $SONY

Key Points

• Dorsey Wright & Associates opened a new position in Sony during the fourth quarter, buying 56,015 shares valued at about $1.43 million.
• Institutional interest in Sony remains active, with several hedge funds adding to positions, while institutional investors now own 14.05% of the stock.
• Insider selling has been a notable headwind, including large sales by Tsuyoshi Kodera and Kenichiro Yoshida, even as analysts currently rate Sony as Hold on average with a $22 price target.

Dorsey Wright & Associates acquired a new stake in shares of Sony Corporation (NYSE:SONY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 56,015 shares of the company's stock, valued at approximately $1,434,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SONY. Fisher Asset Management LLC lifted its holdings in Sony by 4.1% in the 4th quarter. Fisher Asset Management LLC now owns 108,981,588 shares of the company's stock valued at $2,789,929,000 after purchasing an additional 4,337,062 shares in the last quarter. Capital International Investors boosted its stake in shares of Sony by 245.0% during the 3rd quarter. Capital International Investors now owns 6,049,618 shares of the company's stock worth $176,044,000 after purchasing an additional 4,296,028 shares during the last quarter. Clark Capital Management Group Inc. purchased a new stake in shares of Sony during the fourth quarter worth about $47,989,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Sony during the third quarter worth about $50,560,000. Finally, UBS Group AG raised its position in shares of Sony by 165.4% in the fourth quarter. UBS Group AG now owns 2,742,402 shares of the company's stock valued at $70,205,000 after buying an additional 1,709,003 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company's stock.

Insider Activity at Sony

In related news, insider Tsuyoshi Kodera sold 51,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the completion of the transaction, the insider owned 27,553 shares of the company's stock, valued at approximately $565,938.62. This represents a 64.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenichiro Yoshida sold 400,000 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 661,615 shares of the company's stock, valued at $14,959,115.15. This trade represents a 37.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 468,500 shares of company stock worth $10,487,215 over the last three months. Corporate insiders own 7.00% of the company's stock.

Sony News Roundup

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s imaging business drew attention after it announced the LYTIA L910, its first mobile camera sensor using LOFIC architecture, which could strengthen its position in premium smartphone cameras. Sony's latest camera sensor could let your next phone take the ultimate sunset photos
• Positive Sentiment: Sony Pictures also has upcoming content momentum, including a partnership tied to the global theatrical release of Greta Gerwig’s Narnia: The Magician’s Nephew and a SCREENX version of Spider-Man: Brand New Day, both of which support its entertainment pipeline. Sony partners with Netflix for the global theatrical release of Greta Gerwig’s ‘Narnia: The Magician’s Nephew’
• Positive Sentiment: Several reports highlighted Sony’s PlayStation and gaming innovation, including a new controller patent and commentary that Sony’s gaming strategy remains stronger than Xbox’s, which may reinforce confidence in the gaming segment. Xbox’s Recent Moves Demonstrate A ‘Basic Misunderstanding’ Of The Industry, Former Sony Gaming Boss Says
• Neutral Sentiment: Sony also received visibility for consumer electronics and channel-partner awards, plus favorable product reviews for its Bravia 3 II TV and headphone promotions, but these headlines are unlikely to move the stock on their own. Sony Electronics' Professional Display Solutions Announces Winners of Annual Sony AV Partner Awards
• Negative Sentiment: Insider selling weighed on sentiment after Sony insider Tsuyoshi Kodera sold 51,000 shares at an average price of $20.54, reducing his position by about 65%; investors often view this as a cautious signal even if it does not indicate a business problem. SEC filing for insider sale

Wall Street Analyst Weigh In

SONY has been the topic of several recent analyst reports. Benchmark reissued a "buy" rating on shares of Sony in a research note on Monday, May 11th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Sony in a research note on Wednesday, May 20th. Finally, Sanford C. Bernstein reiterated a "market perform" rating and issued a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Four 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.00.

Sony Stock Performance

NYSE SONY opened at $20.34 on Friday. The business's 50-day moving average price is $21.34 and its 200 day moving average price is $22.71. 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 Corporation has a twelve month low of $19.63 and a twelve month high of $30.34. The company has a market capitalization of $120.14 billion, a PE ratio of -101.67, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93.

Sony (NYSE:SONY - Get Free Report) last posted 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). Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. The business had revenue of $19.15 billion during the quarter, compared to analysts' expectations of $18.43 billion. During the same quarter last year, the firm earned $32.86 EPS. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts predict that Sony Corporation will post 1.28 earnings per share for the current year.

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.

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