Sony (NYSE:SONY) Shares Gap Down - What's Next?

Key Points

• Sony's share price gapped down from $29.78 to $29.04 before market opening, currently trading at $29.09 with a volume of 311,442 shares.
• The company reported earnings of $0.30 per share, exceeding the analysts' expectation of $0.24, yet its revenue of $17.79 billion fell short of the $18.88 billion forecast.
• Hedge funds have significantly increased their positions in Sony, with Fisher Asset Management raising its holdings by 19% during the second quarter.

Sony Corporation (NYSE:SONY - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $29.78, but opened at $29.04. Sony shares last traded at $29.09, with a volume of 311,442 shares.

Sony Price Performance

The company's 50 day moving average price is $27.36 and its 200 day moving average price is $25.79. The firm has a market capitalization of $175.78 billion, a P/E ratio of 23.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.09 and a quick ratio of 1.03.

Sony (NYSE:SONY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.06. The business had revenue of $17.79 billion for the quarter, compared to analyst estimates of $18.88 billion. Sony had a net margin of 9.14% and a return on equity of 13.88%. During the same period last year, the business posted $189.90 earnings per share. Sony has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Sony Corporation will post 1.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Sony

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in shares of Sony by 19.0% during the 2nd quarter. Fisher Asset Management LLC now owns 101,878,066 shares of the company's stock valued at $2,651,886,000 after purchasing an additional 16,280,542 shares during the last quarter. Wellington Management Group LLP acquired a new position in Sony during the first quarter worth $78,905,000. Allspring Global Investments Holdings LLC raised its holdings in Sony by 4,056.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company's stock worth $50,269,000 after buying an additional 1,926,156 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Sony by 702.4% during the first 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 holdings in shares of Sony by 124.5% in the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company's stock valued at $52,814,000 after purchasing an additional 1,142,849 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

Sony 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.

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