Sony Corp (SNE) Sees Significant Increase in Short Interest
Sony Corp (NYSE:SNE) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,408,772 shares, an increase of 117.7% from the October 31st total of 647,162 shares. Based on an average daily volume of 1,238,113 shares, the days-to-cover ratio is presently 1.1 days.
Shares of Sony (SNE) opened at $45.56 on Friday. Sony has a fifty-two week low of $27.72 and a fifty-two week high of $48.33. The stock has a market cap of $59,134.47, a PE ratio of 26.29 and a beta of 1.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.71.
Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Sony by 105.6% in the second quarter. Bank of New York Mellon Corp now owns 816,725 shares of the company’s stock worth $31,191,000 after buying an additional 419,493 shares in the last quarter. Allen Investment Management LLC increased its position in shares of Sony by 60.5% in the second quarter. Allen Investment Management LLC now owns 20,132 shares of the company’s stock worth $769,000 after purchasing an additional 7,590 shares during the last quarter. Athos Capital Ltd increased its position in shares of Sony by 280.0% in the third quarter. Athos Capital Ltd now owns 34,200 shares of the company’s stock worth $2,937,000 after purchasing an additional 25,200 shares during the last quarter. Columbia Asset Management increased its position in shares of Sony by 11.8% in the second quarter. Columbia Asset Management now owns 33,870 shares of the company’s stock worth $1,293,000 after purchasing an additional 3,575 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Sony in the third quarter worth approximately $1,650,000. 6.78% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Citigroup downgraded shares of Sony from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $40.60 to $39.93 in a report on Monday, September 11th. Credit Suisse Group downgraded shares of Sony from an “outperform” rating to a “neutral” rating in a report on Tuesday, September 19th. Morgan Stanley downgraded shares of Sony from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Jefferies Group reissued a “buy” rating and issued a $45.74 price target on shares of Sony in a report on Tuesday, October 24th. Finally, Zacks Investment Research downgraded shares of Sony from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.94.
Sony Company Profile
Sony Corporation (Sony) is engaged in the development, design, manufacture and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets, as well as game consoles and software. The Company’s segments include Mobile Communications, Game & Network Services, Imaging Products & Solutions, Home Entertainment & Sound, Devices, Pictures, Music, Financial Services and All Other.
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