Sony Group Co. (NYSE:SONY) is Rock Point Advisors LLC’s 8th Largest Position

Rock Point Advisors LLC reduced its position in shares of Sony Group Co. (NYSE:SONY) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,497 shares of the company’s stock after selling 9,471 shares during the period. Sony Group accounts for about 3.3% of Rock Point Advisors LLC’s holdings, making the stock its 8th biggest position. Rock Point Advisors LLC’s holdings in Sony Group were worth $12,119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SONY. American National Bank raised its stake in shares of Sony Group by 11.3% during the 2nd quarter. American National Bank now owns 1,172 shares of the company’s stock valued at $100,000 after purchasing an additional 119 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Sony Group by 1.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock valued at $735,000 after buying an additional 124 shares during the period. Belpointe Asset Management LLC lifted its position in Sony Group by 1.4% in the second quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock valued at $787,000 after purchasing an additional 128 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Sony Group by 1.7% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 8,394 shares of the company’s stock valued at $713,000 after buying an additional 140 shares during the last quarter. Finally, Wealth Alliance boosted its holdings in shares of Sony Group by 1.2% during the second quarter. Wealth Alliance now owns 11,977 shares of the company’s stock worth $1,017,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Shares of Sony Group stock traded down $0.01 during trading on Tuesday, hitting $19.41. 72,428 shares of the company’s stock traded hands, compared to its average volume of 3,841,794. The business has a 50-day simple moving average of $15.90 and a 200-day simple moving average of $7.86. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. The stock has a market capitalization of $117.39 billion, a P/E ratio of 15.90, a PEG ratio of 12.07 and a beta of 0.95. Sony Group Co. has a 1 year low of $15.02 and a 1 year high of $20.67.

Wall Street Analyst Weigh In

SONY has been the subject of several research analyst reports. Daiwa America raised shares of Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Oppenheimer lowered their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. TD Cowen reduced their target price on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sony Group currently has a consensus rating of “Buy” and an average price target of $24.00.

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.