Harber Asset Management LLC Trims Stock Position in Sony Group Co. (NYSE:SONY)

Harber Asset Management LLC cut its stake in Sony Group Co. (NYSE:SONY) by 51.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 72,185 shares of the company’s stock after selling 76,958 shares during the period. Sony Group accounts for approximately 2.1% of Harber Asset Management LLC’s portfolio, making the stock its 20th largest position. Harber Asset Management LLC’s holdings in Sony Group were worth $6,971,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SONY. Mediolanum International Funds Ltd bought a new stake in shares of Sony Group during the 3rd quarter worth $109,462,000. Fisher Asset Management LLC boosted its holdings in shares of Sony Group by 12.7% in the third 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 period. Marshall Wace LLP raised its stake in shares of 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 purchasing an additional 838,543 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Sony Group in the second quarter valued at about $18,567,000. Finally, Alight Capital Management LP bought a new position in Sony Group in the second quarter valued at about $12,742,000. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Group Stock Down 0.2 %

Sony Group stock opened at $20.01 on Tuesday. Sony Group Co. has a twelve month low of $15.02 and a twelve month high of $20.67. The company’s 50-day moving average price is $17.19 and its two-hundred day moving average price is $8.33. The company has a quick ratio of 0.49, a current ratio of 0.66 and a debt-to-equity ratio of 0.25. The stock has a market cap of $121.01 billion, a P/E ratio of 16.37, a P/E/G ratio of 12.70 and a beta of 0.98.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of 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 cut their price objective on shares of Sony Group from $108.00 to $25.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Daiwa America upgraded Sony Group to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, StockNews.com cut shares of Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Sony Group currently has a consensus rating of “Buy” and an average target price of $24.00.

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.