Maxi Investments CY Ltd Increases Stock Holdings in Sony Corporation (NYSE:SONY)

Key Points

• Maxi Investments CY Ltd increased its position in Sony Corporation by 222.6% in the first quarter, owning a total of 76,812 shares valued at approximately $1.95 million.
• Recent analyst reports have given Sony an average rating of "Moderate Buy" with a target price of $28.00, although some ratings have been lowered from "buy" to "hold".
• Sony's stock has shown volatility, with a 12-month low of $15.96 and a high of $26.94, currently trading at around $24.76.

Maxi Investments CY Ltd lifted its position in Sony Corporation (NYSE:SONY - Free Report) by 222.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,812 shares of the company's stock after buying an additional 53,000 shares during the quarter. Maxi Investments CY Ltd's holdings in Sony were worth $1,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Advisory Services LLC raised its position in shares of Sony by 3.1% in the 1st quarter. Capital Investment Advisory Services LLC now owns 12,977 shares of the company's stock worth $329,000 after purchasing an additional 392 shares during the last quarter. Stonegate Investment Group LLC raised its position in shares of Sony by 2.6% in the 1st quarter. Stonegate Investment Group LLC now owns 16,898 shares of the company's stock worth $429,000 after purchasing an additional 433 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Sony by 9.0% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,333 shares of the company's stock worth $135,000 after purchasing an additional 442 shares during the last quarter. First Foundation Advisors raised its position in shares of Sony by 3.4% in the 1st quarter. First Foundation Advisors now owns 14,543 shares of the company's stock worth $369,000 after purchasing an additional 478 shares during the last quarter. Finally, Naviter Wealth LLC raised its position in shares of Sony by 0.4% in the 1st quarter. Naviter Wealth LLC now owns 138,840 shares of the company's stock worth $3,483,000 after purchasing an additional 530 shares during the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SONY has been the subject of several recent analyst reports. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony in a research report on Monday, April 7th. Wall Street Zen lowered Sony from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sony has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Trading Up 1.6%

Shares of NYSE:SONY opened at $24.76 on Tuesday. The stock has a 50 day moving average of $25.37 and a 200 day moving average of $24.43. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 0.24. Sony Corporation has a 12-month low of $15.96 and a 12-month high of $26.94. The company has a market cap of $149.74 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 11.89 and a beta of 0.91.

About Sony

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.

Want to see what other hedge funds are holding SONY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sony Corporation (NYSE:SONY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.