Sanford C. Bernstein Initiates Coverage on Sony Group (NYSE:SONY)

Sanford C. Bernstein started coverage on shares of Sony Group (NYSE:SONY) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating on the stock.

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

Sony Group Stock Down 0.7 %

SONY stock opened at $20.36 on Thursday. The company’s 50 day simple moving average is $20.39 and its 200-day simple moving average is $12.39. Sony Group has a 52-week low of $15.02 and a 52-week high of $22.71. The firm has a market capitalization of $123.10 billion, a P/E ratio of 16.66, a P/E/G ratio of 12.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.66 and a quick ratio of 0.49.

Institutional Investors Weigh In On Sony Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SONY. Private Advisor Group LLC grew its holdings in Sony Group by 8.1% during the 2nd quarter. Private Advisor Group LLC now owns 5,932 shares of the company’s stock valued at $504,000 after buying an additional 446 shares in the last quarter. American Century Companies Inc. raised its holdings in Sony Group by 7.9% in the 2nd quarter. American Century Companies Inc. now owns 255,375 shares of the company’s stock worth $21,694,000 after purchasing an additional 18,597 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Sony Group in the second quarter valued at approximately $10,347,000. Wealth Alliance increased its stake in Sony Group by 1.2% during the second quarter. Wealth Alliance now owns 11,977 shares of the company’s stock worth $1,017,000 after acquiring an additional 141 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Sony Group by 18.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 36,032 shares of the company’s stock valued at $3,061,000 after purchasing an additional 5,649 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

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.