Ritholtz Wealth Management Sells 73,405 Shares of Sony Corporation $SONY

Ritholtz Wealth Management lessened its stake in Sony Corporation (NYSE:SONY) by 28.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 185,233 shares of the company’s stock after selling 73,405 shares during the quarter. Ritholtz Wealth Management’s holdings in Sony were worth $3,834,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SONY. BTC Capital Management Inc. raised its position in shares of Sony by 57.1% in the 1st quarter. BTC Capital Management Inc. now owns 154,232 shares of the company’s stock valued at $3,193,000 after buying an additional 56,080 shares in the last quarter. Live Oak Private Wealth LLC boosted its position in shares of Sony by 3.5% during the 1st quarter. Live Oak Private Wealth LLC now owns 454,318 shares of the company’s stock worth $9,404,000 after acquiring an additional 15,174 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Sony by 31.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 11,528 shares of the company’s stock valued at $239,000 after acquiring an additional 2,732 shares during the last quarter. Anchyra Partners LLC increased its stake in Sony by 13.8% in the first quarter. Anchyra Partners LLC now owns 24,753 shares of the company’s stock valued at $512,000 after acquiring an additional 2,998 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Sony by 32.2% in the first quarter. SG Americas Securities LLC now owns 44,657 shares of the company’s stock valued at $924,000 after acquiring an additional 10,865 shares during the last quarter. 14.05% of the stock is currently owned by institutional investors and hedge funds.

More Sony News

Here are the key news stories impacting Sony this week:

• Positive Sentiment: Sony Pictures announced a $100 million strategic investment in Cosm, taking a minority stake in the immersive dome-theater company. The move could open a new revenue stream by extending Sony film and TV content into premium experiential venues. Reuters article on Sony Pictures invests $100 million in Cosm
• Positive Sentiment: Multiple stories highlighted strong demand for Sony-branded consumer electronics, including WH-1000XM6 headphones hitting their lowest prices during Prime Day. That kind of promotional visibility can support near-term sales and brand awareness. ZDNet article on Sony headphones deal
• Positive Sentiment: Reports that Sony is returning to the U.S. dollar bond market after nearly 30 years suggest the company is actively managing its capital structure and may be looking to finance growth or opportunistic investments. Yahoo Finance article on Sony returning to U.S. bond market
• Neutral Sentiment: Rumors about a forthcoming Sony FX cinema camera and Sony’s new LYTIA 610 sensor keep the company in the product-news cycle, but these items are speculative and do not yet provide hard financial impact. Article on rumored Sony FX cinema camera
• Neutral Sentiment: Sony’s comments about GTA VI running best on PS5 and highlighting an exclusive feature reinforce the PlayStation ecosystem, though the immediate stock impact is unclear. Article on Sony and GTA VI on PS5
• Neutral Sentiment: Zacks noted Sony is among the most watched stocks, but the piece is mostly a sentiment check rather than a catalyst. Zacks article on Sony being most-watched

Sony Trading Down 3.3%

Shares of Sony stock opened at $19.35 on Friday. The firm’s 50 day moving average is $21.20 and its 200 day moving average is $22.41. The firm has a market capitalization of $114.30 billion, a PE ratio of -96.73, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Sony Corporation has a 1 year low of $19.32 and a 1 year high of $30.34. The company has a current ratio of 1.18, a quick ratio of 0.94 and a debt-to-equity ratio of 0.10.

Sony (NYSE:SONY) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.13). The company had revenue of $19.15 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $32.86 EPS. Equities research analysts forecast that Sony Corporation will post 1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Sony

In other Sony news, insider Tsuyoshi Kodera sold 51,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total value of $1,047,540.00. Following the completion of the transaction, the insider owned 27,553 shares of the company’s stock, valued at $565,938.62. This represents a 64.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenichiro Yoshida sold 400,000 shares of the 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 completion of the transaction, the director owned 661,615 shares of the company’s stock, valued at $14,959,115.15. This represents a 37.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 468,500 shares of company stock worth $10,487,215. 7.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SONY has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Sony in a research note on Wednesday, May 20th. Benchmark reiterated a “buy” rating on shares of Sony in a research note on Monday, May 11th. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $22.00 price target (down from $30.00) on shares of Sony in a report on Tuesday, March 17th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.00.

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.