Sony Corporation $SONY Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its holdings in Sony Corporation (NYSE:SONY) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,696 shares of the company’s stock after selling 31,865 shares during the quarter. QRG Capital Management Inc.’s holdings in Sony were worth $7,487,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. YANKCOM Partnership grew its position in Sony by 748.7% in the fourth quarter. YANKCOM Partnership now owns 976 shares of the company’s stock worth $25,000 after buying an additional 861 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Sony during the 4th quarter valued at $27,000. Elyxium Wealth LLC bought a new stake in shares of Sony during the 4th quarter worth $27,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Sony by 404.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,109 shares of the company’s stock worth $28,000 after acquiring an additional 889 shares in the last quarter. Finally, Twin Tree Management LP grew its holdings in shares of Sony by 4,218.5% in the 4th quarter. Twin Tree Management LP now owns 1,112 shares of the company’s stock worth $28,000 after acquiring an additional 1,139 shares during the last quarter. 14.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Sony in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $22.00 price objective (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.00.

Sony Trading Down 0.0%

Sony stock opened at $20.79 on Friday. Sony Corporation has a 52 week low of $19.32 and a 52 week high of $30.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. The firm has a market capitalization of $122.81 billion, a price-to-earnings ratio of -103.93, a P/E/G ratio of 1.65 and a beta of 0.94. The company has a 50 day moving average price of $21.09 and a 200 day moving average price of $22.16.

Sony (NYSE:SONY) last announced 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 firm had revenue of $19.15 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $32.86 earnings per share. Research analysts forecast that Sony Corporation will post 1.28 EPS for the current year.

Key Stories Impacting Sony

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony’s shift away from physical PlayStation discs could improve margins over time by reducing manufacturing, packaging, and logistics costs, and it signals a more digital-focused business model for future console generations. Sony is first console giant to stop making physical games
• Positive Sentiment: One report noted Sony’s stock climbed after the all-digital announcement, suggesting investors may be focusing on the long-term financial benefits of the transition rather than the fan backlash. Sony Stock Climbs After PlayStation’s All-Digital Announcement Despite Fan Backlash
• Neutral Sentiment: Former Sony leadership comments that PlayStation’s disc-less strategy could influence Xbox and Nintendo reinforce the idea that Sony is setting an industry trend, but this is more of a strategic headline than an immediate earnings catalyst. PlayStation’s disc-less future could heavily influence Xbox and Nintendo, former Sony boss says
• Negative Sentiment: The move has triggered strong backlash from gamers and media coverage portraying Sony as abandoning physical ownership, which could create reputational noise and pressure around the PlayStation brand in the near term. Brands smell blood in the water after PlayStation axes game discs — and they’re roasting Sony for it

Insider Buying and Selling at Sony

In other Sony news, insider Tsuyoshi Kodera sold 51,000 shares of Sony stock in a transaction dated 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 transaction, the insider owned 27,553 shares of the company’s stock, valued at $565,938.62. The trade was a 64.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenichiro Yoshida sold 400,000 shares of Sony stock in a transaction dated 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 transaction, the director directly owned 661,615 shares in the company, valued at approximately $14,959,115.15. This trade represents a 37.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 468,500 shares of company stock worth $10,487,215 over the last three months. 7.00% of the stock is owned by insiders.

Sony Profile

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.