Eagle Asset Management Inc. boosted its position in shares of Sony Corp (NYSE:SNE) by 28.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,040 shares of the company’s stock after purchasing an additional 2,915 shares during the quarter. Eagle Asset Management Inc.’s holdings in Sony were worth $486,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SNE. Proficio Capital Partners LLC lifted its stake in Sony by 5.6% in the second quarter. Proficio Capital Partners LLC now owns 2,643 shares of the company’s stock valued at $105,000 after buying an additional 139 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its stake in Sony by 206.3% in the second quarter. Parallax Volatility Advisers L.P. now owns 4,354 shares of the company’s stock valued at $166,000 after buying an additional 8,451 shares in the last quarter. Opes Advisors Inc bought a new position in Sony in the second quarter valued at approximately $206,000. Cookson Peirce & Co. Inc. bought a new position in Sony in the second quarter valued at approximately $201,000. Finally, Dorsey & Whitney Trust CO LLC bought a new position in Sony in the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 6.78% of the company’s stock.
Shares of Sony Corp (SNE) traded down $0.96 during mid-day trading on Thursday, hitting $44.91. 971,300 shares of the stock were exchanged, compared to its average volume of 857,975. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.71 and a current ratio of 0.86. The company has a market capitalization of $57,959.36, a price-to-earnings ratio of 25.77 and a beta of 1.78. Sony Corp has a twelve month low of $27.91 and a twelve month high of $48.33.
A number of research analysts have weighed in on SNE shares. Jefferies Group reaffirmed a “buy” rating and issued a $45.74 price target on shares of Sony in a research note on Tuesday, October 24th. Zacks Investment Research lowered shares of Sony from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Citigroup lowered shares of Sony from a “buy” rating to a “neutral” rating and cut their price target for the company from $40.60 to $39.93 in a research note on Monday, September 11th. Morgan Stanley lowered shares of Sony from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 11th. Finally, Credit Suisse Group lowered shares of Sony from an “outperform” rating to a “neutral” rating in a research note on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Sony has a consensus rating of “Buy” and a consensus price target of $46.94.
Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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