Parallel Advisors LLC Has $547,000 Stock Position in Sony Group Co. (NYSE:SONY)

Parallel Advisors LLC lowered its stake in Sony Group Co. (NYSE:SONY) by 2.7% during the second quarter, Holdings Channel.com reports. The fund owned 6,441 shares of the company’s stock after selling 177 shares during the period. Parallel Advisors LLC’s holdings in Sony Group were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SONY. Russell Investments Group Ltd. increased its position in shares of Sony Group by 107.9% in the fourth quarter. Russell Investments Group Ltd. now owns 1,297 shares of the company’s stock valued at $123,000 after acquiring an additional 673 shares during the last quarter. 9258 Wealth Management LLC acquired a new position in Sony Group during the fourth quarter worth approximately $221,000. Dimensional Fund Advisors LP increased its position in Sony Group by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 547,573 shares of the company’s stock worth $51,850,000 after buying an additional 2,350 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Sony Group by 9.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,513 shares of the company’s stock worth $2,700,000 after buying an additional 2,498 shares during the last quarter. Finally, Financial Advocates Investment Management increased its position in Sony Group by 7.1% during the fourth quarter. Financial Advocates Investment Management now owns 3,192 shares of the company’s stock worth $302,000 after buying an additional 212 shares during the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sony Group Price Performance

Shares of NYSE SONY opened at $90.58 on Wednesday. The business’s 50 day moving average price is $91.09 and its two-hundred day moving average price is $86.45. The company has a market cap of $111.80 billion, a PE ratio of 16.65 and a beta of 0.95. 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 $75.11 and a twelve month high of $100.88.

Sony Group’s stock is going to split before the market opens 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 issued its quarterly earnings data 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. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.42 billion. On average, analysts predict that Sony Group Co. will post 5.63 EPS for the current year.

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.