Gabelli Funds LLC Increases Stake in Sony Group Co. (NYSE:SONY)

Gabelli Funds LLC increased its stake in shares of Sony Group Co. (NYSE:SONY - Free Report) by 389.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,369,581 shares of the company's stock after buying an additional 5,067,835 shares during the period. Sony Group comprises about 1.0% of Gabelli Funds LLC's holdings, making the stock its 12th biggest position. Gabelli Funds LLC owned about 0.11% of Sony Group worth $134,780,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners lifted its holdings in Sony Group by 401.3% during the fourth quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company's stock valued at $25,000 after purchasing an additional 927 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sony Group during the 4th quarter valued at approximately $26,000. Fairscale Capital LLC boosted its holdings in Sony Group by 400.0% in the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company's stock worth $26,000 after buying an additional 992 shares during the period. General Partner Inc. grew its stake in Sony Group by 400.0% in the 4th quarter. General Partner Inc. now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 996 shares in the last quarter. Finally, Accent Capital Management LLC raised its holdings in Sony Group by 400.0% during the 4th quarter. Accent Capital Management LLC now owns 1,380 shares of the company's stock valued at $29,000 after acquiring an additional 1,104 shares during the period. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SONY has been the subject of a number of analyst reports. StockNews.com lowered Sony Group from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. The Goldman Sachs Group began coverage on Sony Group in a report on Tuesday, March 25th. They set a "buy" rating for the company. Oppenheimer reissued an "outperform" rating and issued 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 note on Monday, April 7th. Finally, Sanford C. Bernstein started coverage on shares of Sony Group in a research note on Thursday, January 16th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $28.00.

Sony Group Price Performance

SONY traded up $0.66 on Friday, reaching $24.02. The company had a trading volume of 4,549,476 shares, compared to its average volume of 4,167,827. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. Sony Group Co. has a 52-week low of $15.02 and a 52-week high of $25.78. The company has a market cap of $145.23 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 9.95 and a beta of 0.94. The business has a 50 day simple moving average of $24.05 and a 200 day simple moving average of $21.47.

Sony Group (NYSE:SONY - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a net margin of 8.21% and a return on equity of 14.10%. As a group, sell-side analysts anticipate that Sony Group Co. will post 1.23 EPS for the current year.

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.