Gamco Investors INC. ET AL Buys 5,038,245 Shares of Sony Group Co. (NYSE:SONY)

Gamco Investors INC. ET AL increased its stake in Sony Group Co. (NYSE:SONY) by 391.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,324,174 shares of the company’s stock after acquiring an additional 5,038,245 shares during the period. Sony Group makes up approximately 1.4% of Gamco Investors INC. ET AL’s investment portfolio, making the stock its 7th biggest position. Gamco Investors INC. ET AL owned approximately 0.10% of Sony Group worth $133,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SONY. Coldstream Capital Management Inc. boosted its position in shares of Sony Group by 23.2% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,993 shares of the company’s stock valued at $352,000 after purchasing an additional 751 shares in the last quarter. M&T Bank Corp lifted its position in shares of Sony Group by 1.9% during the 3rd quarter. M&T Bank Corp now owns 80,858 shares of the company’s stock valued at $7,808,000 after acquiring an additional 1,489 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Sony Group during the 3rd quarter worth $2,073,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Sony Group in the 3rd quarter worth $287,000. Finally, Tidal Investments LLC acquired a new stake in shares of Sony Group during the third quarter worth $244,000. Institutional investors own 14.05% of the company’s stock.

Sony Group Stock Performance

Shares of SONY opened at $23.43 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49. Sony Group Co. has a one year low of $15.02 and a one year high of $25.78. The company’s fifty day moving average price is $23.95 and its 200 day moving average price is $21.36. The company has a market capitalization of $141.70 billion, a PE ratio of 19.02, a price-to-earnings-growth 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 for the quarter, beating the consensus estimate of $0.27 by $0.14. The firm had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. As a group, analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SONY. The Goldman Sachs Group assumed coverage on Sony Group in a research report on Tuesday, March 25th. They issued a “buy” rating for the company. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research note on Monday, April 7th. Oppenheimer reissued an “outperform” rating and set a $33.00 target price (up previously from $25.00) on shares of Sony Group in a research note on Thursday, February 20th. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Sanford C. Bernstein started coverage on Sony Group in a report on Thursday, January 16th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sony Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Sony Group 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.