Figure 8 Investment Strategies LLC Purchases New Holdings in Sony Group Co. (NYSE:SONY)

Figure 8 Investment Strategies LLC purchased a new position in shares of Sony Group Co. (NYSE:SONY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,270 shares of the company’s stock, valued at approximately $2,058,000. Sony Group makes up 2.0% of Figure 8 Investment Strategies LLC’s holdings, making the stock its 21st biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its holdings in Sony Group by 258.6% in the 4th quarter. Vontobel Holding Ltd. now owns 91,818 shares of the company’s stock valued at $1,943,000 after buying an additional 66,212 shares during the period. Aljian Capital Management LLC boosted its position in shares of Sony Group by 400.0% during the 4th quarter. Aljian Capital Management LLC now owns 15,630 shares of the company’s stock worth $331,000 after acquiring an additional 12,504 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Sony Group by 472.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 45,061 shares of the company’s stock valued at $961,000 after acquiring an additional 37,192 shares during the last quarter. Marks Group Wealth Management Inc raised its position in Sony Group by 341.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 75,997 shares of the company’s stock valued at $1,608,000 after purchasing an additional 58,800 shares in the last quarter. Finally, Certuity LLC lifted its position in shares of Sony Group by 450.7% during the 4th quarter. Certuity LLC now owns 13,012 shares of the company’s stock worth $275,000 after buying an additional 10,649 shares during the last quarter. Institutional investors own 14.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Oppenheimer lowered their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. StockNews.com cut Sony Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sony Group currently has a consensus rating of “Buy” and an average target price of $24.00.

Sony Group Price Performance

SONY stock opened at $23.16 on Friday. 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 $24.03. The company has a market capitalization of $140.07 billion, a P/E ratio of 18.95, a PEG ratio of 11.46 and a beta of 0.96. The company has a fifty day moving average price of $21.40 and a 200-day moving average price of $14.98.

Sony Group (NYSE:SONY) last announced its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.27% and a net margin of 8.55%. As a group, equities analysts expect that Sony Group Co. will post 1.21 EPS for the current year.

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.