Dorsey Wright & Associates purchased a new stake in shares of Sony Corporation (NYSE:SONY – Free Report) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 56,015 shares of the company’s stock, valued at approximately $1,434,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SONY. West Family Investments Inc. raised its holdings in shares of Sony by 1.1% in the 3rd quarter. West Family Investments Inc. now owns 34,228 shares of the company’s stock worth $985,000 after purchasing an additional 385 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in shares of Sony by 3.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock worth $298,000 after purchasing an additional 409 shares during the period. Glenmede Investment Management LP grew its holdings in shares of Sony by 1.0% during the 3rd quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock worth $1,223,000 after purchasing an additional 416 shares during the period. Mitchell & Pahl Private Wealth LLC increased its position in Sony by 1.1% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock worth $1,033,000 after purchasing an additional 433 shares in the last quarter. Finally, Nicolet Advisory Services LLC increased its position in Sony by 2.5% during the 4th quarter. Nicolet Advisory Services LLC now owns 18,097 shares of the company’s stock worth $456,000 after purchasing an additional 440 shares in the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.
Trending Headlines about Sony
Here are the key news stories impacting Sony this week:
- Positive Sentiment: Sony’s imaging business drew attention after it announced the LYTIA L910, its first mobile camera sensor using LOFIC architecture, which could strengthen its position in premium smartphone cameras. Sony’s latest camera sensor could let your next phone take the ultimate sunset photos
- Positive Sentiment: Sony Pictures also has upcoming content momentum, including a partnership tied to the global theatrical release of Greta Gerwig’s Narnia: The Magician’s Nephew and a SCREENX version of Spider-Man: Brand New Day, both of which support its entertainment pipeline. Sony partners with Netflix for the global theatrical release of Greta Gerwig’s ‘Narnia: The Magician’s Nephew’
- Positive Sentiment: Several reports highlighted Sony’s PlayStation and gaming innovation, including a new controller patent and commentary that Sony’s gaming strategy remains stronger than Xbox’s, which may reinforce confidence in the gaming segment. Xbox’s Recent Moves Demonstrate A ‘Basic Misunderstanding’ Of The Industry, Former Sony Gaming Boss Says
- Neutral Sentiment: Sony also received visibility for consumer electronics and channel-partner awards, plus favorable product reviews for its Bravia 3 II TV and headphone promotions, but these headlines are unlikely to move the stock on their own. Sony Electronics’ Professional Display Solutions Announces Winners of Annual Sony AV Partner Awards
- Negative Sentiment: Insider selling weighed on sentiment after Sony insider Tsuyoshi Kodera sold 51,000 shares at an average price of $20.54, reducing his position by about 65%; investors often view this as a cautious signal even if it does not indicate a business problem. SEC filing for insider sale
Sony Stock Up 0.5%
Sony (NYSE:SONY – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.13). The business had revenue of $19.15 billion during the quarter, compared to analyst estimates of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $32.86 EPS. Equities research analysts forecast that Sony Corporation will post 1.28 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SONY. Benchmark reiterated a “buy” rating on shares of Sony in a research note on Monday, May 11th. Sanford C. Bernstein restated a “market perform” rating and issued a $22.00 target price (down from $30.00) on shares of Sony in a research note on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Sony in a research report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.00.
Read Our Latest Report on Sony
Insider Buying and Selling at Sony
In other news, insider Tsuyoshi Kodera sold 51,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total transaction of $1,047,540.00. Following the sale, the insider directly owned 27,553 shares of the company’s stock, valued at $565,938.62. The trade was a 64.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenichiro Yoshida sold 400,000 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $22.61, for a total value of $9,044,000.00. Following the sale, the director directly owned 661,615 shares of the company’s stock, valued at approximately $14,959,115.15. This represents a 37.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 468,500 shares of company stock valued at $10,487,215. Corporate insiders own 7.00% of the company’s stock.
About Sony
Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.
Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.
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