Riverwater Partners LLC Has $505,000 Stock Position in Sony Group Co. (NYSE:SONY)

Riverwater Partners LLC boosted its holdings in shares of Sony Group Co. (NYSE:SONY) by 47.6% in the 3rd quarter, Holdings Channel reports. The firm owned 5,320 shares of the company’s stock after buying an additional 1,716 shares during the period. Riverwater Partners LLC’s holdings in Sony Group were worth $505,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Marshall Wace LLP boosted its stake in Sony Group by 8,495.0% in the second quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock valued at $72,073,000 after buying an additional 838,543 shares in the last quarter. Mondrian Investment Partners LTD boosted its stake in shares of Sony Group by 43.4% in the 1st quarter. Mondrian Investment Partners LTD now owns 2,558,527 shares of the company’s stock valued at $220,033,000 after purchasing an additional 774,502 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Sony Group during the 2nd quarter valued at approximately $18,567,000. Pictet North America Advisors SA acquired a new position in Sony Group during the 1st quarter worth approximately $18,702,000. Finally, Alight Capital Management LP bought a new position in Sony Group in the 2nd quarter valued at approximately $12,742,000. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Stock Performance

NYSE SONY opened at $17.51 on Thursday. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 3.22 and a beta of 0.94. 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 Co. has a twelve month low of $15.02 and a twelve month high of $20.18. The stock has a fifty day simple moving average of $8.86 and a 200 day simple moving average of $5.31.

Sony Group (NYSE:SONY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The firm had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Sell-side analysts expect that Sony Group Co. will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SONY shares. TD Cowen decreased 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 note on Friday, October 11th. StockNews.com lowered Sony Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Daiwa America upgraded Sony Group to a “strong-buy” rating in a research report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.66.

Sony Group Company 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.