Resonant Capital Advisors LLC Boosts Holdings in Sony Group Co. (NYSE:SONY)

Resonant Capital Advisors LLC grew its holdings in shares of Sony Group Co. (NYSE:SONY) by 4.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,217 shares of the company’s stock after acquiring an additional 147 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Sony Group were worth $273,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SONY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Sony Group in the second quarter worth approximately $26,000. Sunbelt Securities Inc. bought a new position in shares of Sony Group in the first quarter worth approximately $29,000. Rise Advisors LLC grew its holdings in shares of Sony Group by 259.2% in the first quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after purchasing an additional 254 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Sony Group in the fourth quarter worth approximately $34,000. Finally, Ridgewood Investments LLC bought a new position in shares of Sony Group in the second quarter worth approximately $41,000. 14.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sony Group Stock Performance

NYSE:SONY opened at $95.44 on Wednesday. The stock has a market cap of $117.79 billion, a P/E ratio of 17.54 and a beta of 0.94. The firm’s fifty day simple moving average is $89.73 and its 200 day simple moving average is $86.05. Sony Group Co. has a twelve month low of $75.11 and a twelve month 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.

Shares of Sony Group are going to split on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be distributed to shareholders after the market closes on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The firm had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.42 billion. As a group, research analysts predict that Sony Group Co. will post 5.63 EPS for the current year.

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.