Wallace Advisory Group LLC Grows Stock Position in Sony Group Co. (NYSE:SONY)

Wallace Advisory Group LLC boosted its holdings in shares of Sony Group Co. (NYSE:SONY - Free Report) by 418.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,157 shares of the company's stock after purchasing an additional 11,428 shares during the period. Wallace Advisory Group LLC's holdings in Sony Group were worth $359,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC purchased a new position in Sony Group during the first quarter valued at $214,000. Somerset Trust Co boosted its stake in Sony Group by 48.2% during the first quarter. Somerset Trust Co now owns 17,720 shares of the company's stock worth $450,000 after acquiring an additional 5,763 shares in the last quarter. BTC Capital Management Inc. boosted its stake in Sony Group by 45.5% during the first quarter. BTC Capital Management Inc. now owns 87,867 shares of the company's stock worth $2,231,000 after acquiring an additional 27,482 shares in the last quarter. GAMMA Investing LLC grew its holdings in Sony Group by 2,995.3% in the first quarter. GAMMA Investing LLC now owns 994,755 shares of the company's stock worth $25,257,000 after purchasing an additional 962,617 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Sony Group by 1,152.5% during the first quarter. Versant Capital Management Inc now owns 27,304 shares of the company's stock valued at $693,000 after purchasing an additional 25,124 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors.

Sony Group Stock Down 0.4%

Shares of Sony Group stock traded down $0.11 on Tuesday, reaching $26.77. The company's stock had a trading volume of 5,804,964 shares, compared to its average volume of 4,372,645. The company has a market capitalization of $161.90 billion, a price-to-earnings ratio of 21.73, a P/E/G ratio of 9.95 and a beta of 0.97. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 52 week low of $15.86 and a 52 week high of $26.95. The firm's fifty day simple moving average is $24.59 and its two-hundred day simple moving average is $22.99.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group began coverage on Sony Group in a research note on Tuesday, March 25th. They issued a "buy" rating on the stock. Oppenheimer restated an "outperform" rating and set a $33.00 price target (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Wolfe Research reaffirmed a "peer perform" rating on shares of Sony Group in a research report on Monday, April 7th. Finally, Wall Street Zen cut shares of Sony Group from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.00.

Sony Group Company Profile

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.