Quadrant Capital Group LLC lowered its holdings in Sony Corp (NYSE:SNE) by 24.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,862 shares of the company’s stock after selling 3,217 shares during the quarter. Quadrant Capital Group LLC’s holdings in Sony were worth $402,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNE. Bank of New York Mellon Corp lifted its position in shares of Sony by 639.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,807,688 shares of the company’s stock worth $109,636,000 after buying an additional 1,563,202 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Sony by 16.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,629 shares of the company’s stock worth $705,000 after buying an additional 1,683 shares in the last quarter. Csenge Advisory Group bought a new position in shares of Sony during the 3rd quarter worth approximately $199,000. Marshall Wace LLP bought a new position in shares of Sony during the 3rd quarter worth approximately $750,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Sony during the 3rd quarter worth approximately $8,747,000. 7.60% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. ValuEngine raised shares of Sony from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Macquarie raised shares of Sony from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group raised shares of Sony from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. Zacks Investment Research cut shares of Sony from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Finally, CLSA reaffirmed a “buy” rating on shares of Sony in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Sony presently has an average rating of “Buy” and a consensus target price of $50.32.
Shares of NYSE:SNE traded down $0.54 during mid-day trading on Wednesday, reaching $50.49. The company had a trading volume of 1,061,885 shares, compared to its average volume of 1,635,759. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $64.48 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 2.48 and a beta of 1.39. Sony Corp has a one year low of $41.91 and a one year high of $61.02.
Sony (NYSE:SNE) last posted its quarterly earnings results on Friday, April 26th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.43. The company had revenue of $2,127.50 billion for the quarter, compared to analysts’ expectations of $2,040.96 billion. Sony had a net margin of 10.54% and a return on equity of 21.78%. Sony’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $41.20 EPS. Research analysts predict that Sony Corp will post 3.97 earnings per share for the current year.
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Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.
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