Sony Group Sees Unusually High Options Volume (NYSE:SONY)

Sony Group Co. (NYSE:SONY) saw unusually large options trading on Tuesday. Stock traders bought 4,322 call options on the stock. This represents an increase of 32% compared to the average volume of 3,277 call options.

Sony Group Stock Up 3.9 %

Shares of SONY stock traded up $0.82 during trading hours on Tuesday, reaching $22.06. 1,703,863 shares of the company’s stock were exchanged, compared to its average volume of 5,130,220. Sony Group has a fifty-two week low of $15.02 and a fifty-two week high of $25.78. The stock’s 50 day moving average is $23.91 and its 200-day moving average is $20.56. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. The company has a market cap of $133.41 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 9.95 and a beta of 0.94.

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, beating the consensus estimate of $0.27 by $0.14. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. The company had revenue of $28.95 billion for the quarter, compared to analyst estimates of $24.32 billion. Analysts predict that Sony Group will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SONY. Oppenheimer reaffirmed an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. Wolfe Research restated a “peer perform” rating on shares of Sony Group in a report on Monday. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group initiated coverage on Sony Group in a research note on Tuesday, March 25th. They set a “buy” rating for the company. Finally, Sanford C. Bernstein assumed coverage on Sony Group in a research note on Thursday, January 16th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SONY. Charles Schwab Investment Management Inc. increased its position in shares of Sony Group by 25.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 79,211 shares of the company’s stock valued at $7,649,000 after acquiring an additional 16,073 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Sony Group in the third quarter worth about $403,000. HighTower Advisors LLC boosted its position in Sony Group by 34.0% in the third quarter. HighTower Advisors LLC now owns 43,341 shares of the company’s stock valued at $4,188,000 after buying an additional 10,994 shares during the last quarter. IHT Wealth Management LLC acquired a new position in Sony Group in the 3rd quarter worth approximately $385,000. Finally, Orion Portfolio Solutions LLC raised its position in Sony Group by 2.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 66,919 shares of the company’s stock worth $6,462,000 after buying an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

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.