Merit Financial Group LLC Takes $278,000 Position in Sony Group Co. (NYSE:SONY)

Merit Financial Group LLC bought a new stake in Sony Group Co. (NYSE:SONY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,954 shares of the company's stock, valued at approximately $278,000.

Other large investors also recently bought and sold shares of the company. Primecap Management Co. CA boosted its holdings in shares of Sony Group by 379.5% in the 4th quarter. Primecap Management Co. CA now owns 101,995,855 shares of the company's stock valued at $2,158,232,000 after buying an additional 80,724,932 shares during the period. Aristotle Capital Management LLC increased its holdings in shares of Sony Group by 393.7% during the fourth quarter. Aristotle Capital Management LLC now owns 52,771,882 shares of the company's stock valued at $1,116,653,000 after purchasing an additional 42,083,842 shares during the period. Fisher Asset Management LLC raised its stake in shares of Sony Group by 425.9% during the fourth quarter. Fisher Asset Management LLC now owns 45,420,092 shares of the company's stock valued at $961,089,000 after purchasing an additional 36,783,737 shares in the last quarter. Bank of America Corp DE lifted its holdings in Sony Group by 377.7% in the fourth quarter. Bank of America Corp DE now owns 23,804,970 shares of the company's stock worth $503,713,000 after purchasing an additional 18,821,902 shares during the period. Finally, Fiduciary Management Inc. WI grew its position in Sony Group by 377.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 10,320,498 shares of the company's stock valued at $218,382,000 after buying an additional 8,157,776 shares in the last quarter. Institutional investors own 14.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SONY shares. Wolfe Research restated a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Oppenheimer reissued an "outperform" rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a report on Thursday, February 20th. The Goldman Sachs Group started coverage on Sony Group in a research note on Tuesday, March 25th. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sony Group currently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Sony Group Price Performance

Shares of NYSE SONY traded up $0.47 during midday trading on Thursday, reaching $26.38. The company's stock had a trading volume of 3,234,293 shares, compared to its average volume of 4,374,492. Sony Group Co. has a one year low of $15.86 and a one year high of $26.95. The company has a market cap of $159.54 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 9.95 and a beta of 0.96. The company has a 50 day moving average price of $24.87 and a 200 day moving average price of $23.29. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25.

About Sony Group

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.