Polar Asset Management Partners Inc. Takes Position in Sony Corporation $SONY

Key Points

• Polar Asset Management Partners Inc. acquired a new stake in Sony Corporation, purchasing 234,668 shares valued at approximately $5.96 million during the 1st quarter.
• Analysts have recently downgraded Sony's stock rating from "buy" to "hold," with a consensus price target of $28.00 and varying ratings from analysts.
• Sony's stock is currently trading at $27.56, with a market capitalization of $166.64 billion, and has reported earnings exceeding expectations, despite a revenue shortfall for the last quarter.

Polar Asset Management Partners Inc. purchased a new position in shares of Sony Corporation (NYSE:SONY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 234,668 shares of the company's stock, valued at approximately $5,958,000.

A number of other large investors have also recently bought and sold shares of SONY. Royal Bank of Canada boosted its stake in Sony by 416.6% during the 4th quarter. Royal Bank of Canada now owns 5,796,210 shares of the company's stock worth $122,649,000 after purchasing an additional 4,674,249 shares during the period. Wellington Management Group LLP acquired a new stake in Sony during the 1st quarter worth $78,905,000. LMR Partners LLP purchased a new position in Sony during the 4th quarter worth $44,854,000. 1832 Asset Management L.P. raised its position in Sony by 702.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company's stock worth $33,472,000 after buying an additional 1,154,010 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Sony by 124.5% during the 1st quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock worth $52,814,000 after buying an additional 1,142,849 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company's stock.

Sony Price Performance

Shares of SONY traded up $0.48 during trading hours on Thursday, reaching $29.13. The company had a trading volume of 1,997,185 shares, compared to its average volume of 5,045,067. The firm has a 50 day simple moving average of $26.22 and a 200-day simple moving average of $25.34. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $176.19 billion, a price-to-earnings ratio of 23.12 and a beta of 0.94. Sony Corporation has a 12-month low of $17.42 and a 12-month high of $29.16.

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

Analysts Set New Price Targets

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

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.