Sony Group (NYSE:SONY) Lowered to Buy Rating by StockNews.com

Sony Group (NYSE:SONY) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

SONY has been the subject of several other research reports. TD Cowen decreased their price objective on Sony Group from $107.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Oppenheimer reduced their target price on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

Sony Group Stock Up 2.8 %

Shares of NYSE SONY opened at $18.97 on Tuesday. The stock has a market cap of $114.72 billion, a P/E ratio of 15.52, a PEG ratio of 11.69 and a beta of 0.95. The business’s fifty day simple moving average is $14.36 and its 200-day simple moving average is $7.30. Sony Group has a 12-month low of $15.02 and a 12-month high of $20.67. The company has a current ratio of 0.66, a quick ratio of 0.47 and a debt-to-equity ratio of 0.25.

Hedge Funds Weigh In On Sony Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mediolanum International Funds Ltd acquired a new stake in Sony Group during the third quarter worth approximately $109,462,000. Fisher Asset Management LLC grew its position in shares of Sony Group by 12.7% in the 3rd quarter. Fisher Asset Management LLC now owns 8,636,355 shares of the company’s stock valued at $834,013,000 after buying an additional 972,075 shares during the last quarter. Marshall Wace LLP raised its stake in Sony Group by 8,495.0% during the 2nd quarter. Marshall Wace LLP now owns 848,414 shares of the company’s stock worth $72,073,000 after acquiring an additional 838,543 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Sony Group in the second quarter valued at $18,567,000. Finally, Alight Capital Management LP acquired a new position in Sony Group in the second quarter valued at $12,742,000. 14.05% of the stock is owned by institutional investors and hedge funds.

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.