Sony Group Co. (NYSE:SONY) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in shares of Sony Group Co. (NYSE:SONY) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,858 shares of the company’s stock after selling 570 shares during the quarter. Pacer Advisors Inc.’s holdings in Sony Group were worth $922,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Sony Group during the second quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Sony Group during the 1st quarter worth $29,000. Rise Advisors LLC raised its position in shares of Sony Group by 259.2% in the 1st quarter. Rise Advisors LLC now owns 352 shares of the company’s stock worth $30,000 after buying an additional 254 shares during the period. Ridgewood Investments LLC acquired a new position in Sony Group in the second quarter valued at $41,000. Finally, Family Firm Inc. purchased a new stake in Sony Group during the second quarter valued at about $44,000. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Trading Down 2.5 %

NYSE:SONY opened at $96.16 on Friday. Sony Group Co. has a 12 month low of $75.11 and a 12 month high of $100.88. The business’s 50-day moving average is $91.07 and its two-hundred day moving average is $86.89. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.47. The firm has a market capitalization of $118.68 billion, a PE ratio of 17.68 and a beta of 0.95.

Sony Group shares are set to split before the market opens on Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly issued shares will be payable to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a net margin of 7.59% and a return on equity of 12.82%. The company had revenue of $19.32 billion during the quarter, compared to the consensus estimate of $17.42 billion. Research analysts predict that Sony Group Co. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com downgraded Sony Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Daiwa America upgraded shares of Sony Group to a “strong-buy” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.00.

About Sony Group

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.