Gabelli Funds LLC Has $163.15 Million Position in Sony Corporation $SONY

Gabelli Funds LLC cut its position in Sony Corporation (NYSE:SONY) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,667,035 shares of the company’s stock after selling 245,620 shares during the quarter. Sony comprises about 1.1% of Gabelli Funds LLC’s holdings, making the stock its 8th largest position. Gabelli Funds LLC owned about 0.09% of Sony worth $163,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SONY. Sound Income Strategies LLC bought a new position in shares of Sony during the 3rd quarter worth $25,000. NewSquare Capital LLC purchased a new stake in Sony in the 2nd quarter worth about $28,000. GPS Wealth Strategies Group LLC raised its stake in Sony by 220.7% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,148 shares of the company’s stock valued at $30,000 after acquiring an additional 790 shares during the period. Country Trust Bank purchased a new stake in Sony during the second quarter valued at about $30,000. Finally, Highline Wealth Partners LLC lifted its holdings in Sony by 46.7% during the third quarter. Highline Wealth Partners LLC now owns 1,316 shares of the company’s stock valued at $38,000 after purchasing an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 14.05% of the company’s stock.

Sony Trading Up 0.5%

Shares of Sony stock opened at $21.48 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.97. Sony Corporation has a 1 year low of $20.42 and a 1 year high of $30.34. The firm has a market cap of $129.90 billion, a PE ratio of -107.39, a PEG ratio of 7.59 and a beta of 0.94. The company has a 50 day simple moving average of $23.26 and a two-hundred day simple moving average of $26.55.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SONY shares. Zacks Research lowered shares of Sony from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Nomura upgraded shares of Sony from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 19th. Wall Street Zen raised shares of Sony to a “hold” rating in a report on Saturday, December 6th. Weiss Ratings lowered shares of Sony from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $30.00 target price (down from $33.00) on shares of Sony in a report on Wednesday, January 14th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

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.