Sony Corporation $SONY Stake Reduced by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC trimmed its position in shares of Sony Corporation (NYSE:SONY) by 88.6% in the second quarter, HoldingsChannel reports. The firm owned 30,000 shares of the company’s stock after selling 233,110 shares during the period. Quinn Opportunity Partners LLC’s holdings in Sony were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in SONY. Wellington Management Group LLP bought a new stake in shares of Sony in the 1st quarter worth $78,905,000. Allspring Global Investments Holdings LLC increased its stake in shares of Sony by 4,056.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,973,638 shares of the company’s stock worth $50,269,000 after acquiring an additional 1,926,156 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Sony by 702.4% in the first quarter. 1832 Asset Management L.P. now owns 1,318,299 shares of the company’s stock valued at $33,472,000 after acquiring an additional 1,154,010 shares during the last quarter. Ameriprise Financial Inc. increased its position in Sony by 124.5% during the first quarter. Ameriprise Financial Inc. now owns 2,060,705 shares of the company’s stock worth $52,814,000 after buying an additional 1,142,849 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Sony by 175.6% in the 2nd quarter. Assetmark Inc. now owns 1,469,596 shares of the company’s stock valued at $38,254,000 after acquiring an additional 936,441 shares in the last quarter. Institutional investors and hedge funds own 14.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Sony in a research note on Wednesday, October 8th. Zacks Research upgraded Sony from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 16th. Wolfe Research upgraded Sony from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, November 5th. Finally, Cfra Research raised Sony to a “moderate buy” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, Sony currently has an average rating of “Buy” and a consensus target price of $33.00.

Sony Stock Up 3.8%

Shares of Sony stock opened at $30.26 on Thursday. The business has a fifty day simple moving average of $28.87 and a 200 day simple moving average of $26.88. The stock has a market cap of $183.03 billion, a PE ratio of 24.02 and a beta of 0.99. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 0.16. Sony Corporation has a 12 month low of $18.41 and a 12 month high of $30.34.

Sony 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.