Skylands Capital LLC Purchases 13,550 Shares of Sony Group Co. (NYSE:SONY)

Skylands Capital LLC increased its stake in shares of Sony Group Co. (NYSE:SONY) by 60.8% in the 4th quarter, Holdings Channel reports. The firm owned 35,850 shares of the company’s stock after buying an additional 13,550 shares during the period. Skylands Capital LLC’s holdings in Sony Group were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rothschild Investment LLC lifted its stake in shares of Sony Group by 337.4% in the 4th quarter. Rothschild Investment LLC now owns 6,509 shares of the company’s stock worth $138,000 after purchasing an additional 5,021 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Sony Group in the fourth quarter worth about $234,000. IFP Advisors Inc grew its stake in shares of Sony Group by 1,823.9% during the 4th quarter. IFP Advisors Inc now owns 6,291 shares of the company’s stock valued at $133,000 after acquiring an additional 5,964 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Sony Group during the 4th quarter worth approximately $100,000. Finally, Cabot Wealth Management Inc. lifted its holdings in Sony Group by 414.5% during the fourth quarter. Cabot Wealth Management Inc. now owns 852,913 shares of the company’s stock valued at $18,048,000 after purchasing an additional 687,122 shares in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Performance

Sony Group stock opened at $24.81 on Monday. The company has a 50 day moving average price of $21.74 and a 200-day moving average price of $16.03. The company has a market capitalization of $150.01 billion, a PE ratio of 20.13, a P/E/G ratio of 9.95 and a beta of 0.96. Sony Group Co. has a fifty-two week low of $15.02 and a fifty-two week high of $25.29. 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 (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. As a group, equities analysts forecast that Sony Group Co. will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $33.00 price objective (up from $25.00) on shares of Sony Group in a research report on Thursday. Sanford C. Bernstein started coverage on shares of Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. Finally, StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sony Group has an average rating of “Buy” and a consensus target price of $28.00.

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.