Thornburg Investment Management Inc. Purchases 21,979 Shares of Sony Group Co. (NYSE:SONY)

Thornburg Investment Management Inc. boosted its position in Sony Group Co. (NYSE:SONY) by 13.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 191,482 shares of the company’s stock after purchasing an additional 21,979 shares during the period. Thornburg Investment Management Inc.’s holdings in Sony Group were worth $16,316,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Sony Group in the 2nd quarter worth about $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group during the 1st quarter valued at approximately $29,000. Rise Advisors LLC grew its position in shares of Sony Group by 259.2% during the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock valued at $30,000 after acquiring an additional 254 shares during the period. Ridgewood Investments LLC bought a new position in shares of Sony Group during the 2nd quarter valued at approximately $41,000. Finally, Family Firm Inc. bought a new position in shares of Sony Group during the 2nd quarter valued at approximately $44,000. 14.05% of the stock is owned by institutional investors.

Sony Group Price Performance

Shares of NYSE:SONY opened at $93.77 on Thursday. The stock has a market cap of $115.73 billion, a PE ratio of 17.24 and a beta of 0.94. The company’s fifty day moving average is $90.67 and its 200 day moving average is $86.26. Sony Group Co. has a 52 week low of $75.11 and a 52 week high of $100.88. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26.

Sony Group shares are going to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly minted shares will be issued to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The business had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. Research analysts anticipate that Sony Group Co. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

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.