Gamco Investors INC. ET AL Sells 385,948 Shares of Sony Corporation $SONY

Gamco Investors INC. ET AL trimmed its stake in Sony Corporation (NYSE:SONYFree Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,589,084 shares of the company’s stock after selling 385,948 shares during the period. Sony comprises 0.9% of Gamco Investors INC. ET AL’s holdings, making the stock its 15th biggest holding. Gamco Investors INC. ET AL’s holdings in Sony were worth $94,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Glenmede Investment Management LP raised its stake in shares of Sony by 1.0% during the third quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after acquiring an additional 416 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Sony by 1.1% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after purchasing an additional 433 shares during the period. Nicolet Advisory Services LLC increased its holdings 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 during the period. Binnacle Investments Inc raised its position in Sony by 81.7% during the 3rd quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock valued at $30,000 after purchasing an additional 464 shares in the last quarter. Finally, Sunpointe LLC raised its position in Sony by 5.5% during the 4th quarter. Sunpointe LLC now owns 9,454 shares of the company’s stock valued at $242,000 after purchasing an additional 493 shares in the last quarter. 14.05% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Sony

Here are the key news stories impacting Sony this week:

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SONY shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Benchmark restated a “buy” rating on shares of Sony in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sony currently has a consensus rating of “Hold” and a consensus price target of $22.00.

View Our Latest Stock Analysis on SONY

Sony Trading Up 1.6%

Shares of NYSE SONY opened at $21.01 on Friday. Sony Corporation has a 1-year low of $19.32 and a 1-year high of $30.34. The business has a fifty day moving average price of $21.14 and a 200 day moving average price of $21.65. The stock has a market capitalization of $124.15 billion, a P/E ratio of -105.06, a price-to-earnings-growth ratio of 1.64 and a beta of 0.94. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.18 and a quick ratio of 0.94.

Sony (NYSE:SONYGet Free Report) last posted its 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 company had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Sony had a negative net margin of 2.61% and a positive return on equity of 12.20%. Sony’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $32.86 EPS. Equities research analysts expect that Sony Corporation will post 1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Toshimoto Mitomo sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 3rd. The shares were sold at an average price of $21.02, for a total transaction of $525,500.00. Following the completion of the transaction, the insider owned 115,700 shares in the company, valued at $2,432,014. The trade was a 17.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jonathan Jose Platt sold 16,512 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $21.08, for a total transaction of $348,072.96. Following the sale, the insider directly owned 83,326 shares of the company’s stock, valued at $1,756,512.08. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 771,838 shares of company stock worth $16,866,580. Insiders own 7.00% of the company’s stock.

Sony Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Sony (NYSE:SONY)

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