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

Cardinal Capital Management Inc. cut its stake in Sony Corporation (NYSE:SONY) by 60.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 613,445 shares of the company’s stock after selling 923,405 shares during the period. Cardinal Capital Management Inc.’s holdings in Sony were worth $17,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewSquare Capital LLC acquired a new stake in Sony during the 2nd quarter valued at $28,000. GPS Wealth Strategies Group LLC raised its holdings in Sony by 220.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 1,148 shares of the company’s stock valued at $30,000 after buying an additional 790 shares during the period. Country Trust Bank acquired a new position in shares of Sony during the 2nd quarter valued at $30,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Sony in the second quarter worth about $39,000. Finally, Financial Management Professionals Inc. lifted its position in Sony by 81.5% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,980 shares of the company’s stock worth $52,000 after acquiring an additional 889 shares in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SONY shares. Wall Street Zen raised shares of Sony to a “hold” rating in a research report on Saturday, December 6th. Nomura upgraded shares of Sony from a “neutral” rating to a “buy” rating in a report on Wednesday, November 19th. Cfra Research raised shares of Sony to a “moderate buy” rating in a research report on Friday, October 10th. Nomura Securities raised Sony from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 19th. Finally, Zacks Research upgraded Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.00.

Sony Stock Down 0.5%

NYSE:SONY opened at $26.62 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.05. The company has a market capitalization of $161.01 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 10.26 and a beta of 0.97. Sony Corporation has a one year low of $19.85 and a one year high of $30.34. The stock has a 50-day simple moving average of $28.53 and a 200 day simple moving average of $27.38.

Sony Company Profile

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.