OLD National Bancorp IN Cuts Holdings in Sony Group Co. (NYSE:SONY)

OLD National Bancorp IN reduced its position in Sony Group Co. (NYSE:SONY) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,062 shares of the company’s stock after selling 3,057 shares during the quarter. OLD National Bancorp IN’s holdings in Sony Group were worth $290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in Sony Group in the third quarter valued at about $405,000. SOL Capital Management CO raised its position in Sony Group by 1.4% in the third quarter. SOL Capital Management CO now owns 16,255 shares of the company’s stock valued at $1,340,000 after purchasing an additional 220 shares during the period. Aaron Wealth Advisors LLC raised its position in Sony Group by 5.6% in the third quarter. Aaron Wealth Advisors LLC now owns 4,878 shares of the company’s stock valued at $402,000 after purchasing an additional 257 shares during the period. Ballentine Partners LLC raised its position in Sony Group by 2.8% in the third quarter. Ballentine Partners LLC now owns 7,584 shares of the company’s stock valued at $625,000 after purchasing an additional 206 shares during the period. Finally, Clarius Group LLC raised its position in Sony Group by 12.2% in the third quarter. Clarius Group LLC now owns 9,325 shares of the company’s stock valued at $768,000 after purchasing an additional 1,013 shares during the period. 14.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SONY has been the topic of several research reports. TheStreet raised Sony Group from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Oppenheimer restated an “outperform” rating and set a $108.00 target price on shares of Sony Group in a research note on Monday, February 26th. Macquarie downgraded Sony Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, February 15th. Finally, StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Stock Performance

SONY opened at $82.44 on Friday. The business’s 50 day moving average is $85.83 and its 200-day moving average is $88.86. The stock has a market cap of $101.75 billion, a PE ratio of 15.92 and a beta of 0.98. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. Sony Group Co. has a twelve month low of $79.62 and a twelve month high of $100.94.

Sony Group (NYSE:SONY) last released its quarterly earnings results on Wednesday, February 14th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.32. The company had revenue of $25.38 billion for the quarter, compared to analysts’ expectations of $24.31 billion. Sony Group had a return on equity of 12.43% and a net margin of 7.62%. On average, analysts predict that Sony Group Co. will post 5.21 earnings per share 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.