Zweig DiMenna Associates LLC Cuts Stake in Sony Corp Ord (SNE)
Zweig DiMenna Associates LLC decreased its position in Sony Corp Ord (NYSE:SNE) by 70.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,627 shares of the company’s stock after selling 188,120 shares during the period. Zweig DiMenna Associates LLC’s holdings in Sony Corp Ord were worth $2,965,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Sony Corp Ord by 28.8% in the first quarter. Bank of America Corp DE now owns 3,200,092 shares of the company’s stock worth $107,939,000 after buying an additional 715,316 shares during the period. Karp Capital Management Corp acquired a new stake in Sony Corp Ord during the first quarter worth $18,931,000. Primecap Management Co. CA increased its stake in Sony Corp Ord by 1.1% in the first quarter. Primecap Management Co. CA now owns 44,778,550 shares of the company’s stock worth $1,510,380,000 after buying an additional 495,500 shares during the period. Bank of New York Mellon Corp increased its stake in Sony Corp Ord 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 during the period. Finally, Credit Suisse AG acquired a new stake in Sony Corp Ord during the first quarter worth $6,978,000. Institutional investors own 6.94% of the company’s stock.
Shares of Sony Corp Ord (SNE) opened at 38.19 on Friday. The company’s 50 day moving average is $39.68 and its 200-day moving average is $35.55. Sony Corp Ord has a 1-year low of $27.72 and a 1-year high of $41.65. The company has a market capitalization of $48.24 billion, a P/E ratio of 40.76 and a beta of 1.73.
Sony Corp Ord (NYSE:SNE) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The firm had revenue of $1,858.10 billion during the quarter, compared to analyst estimates of $1,735.86 billion. Sony Corp Ord had a return on equity of 4.17% and a net margin of 1.67%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $16.44 earnings per share. On average, equities research analysts forecast that Sony Corp Ord will post $2.18 EPS for the current year.
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A number of research firms recently weighed in on SNE. Zacks Investment Research downgraded shares of Sony Corp Ord from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating on shares of Sony Corp Ord in a research note on Monday, May 1st. BidaskClub downgraded shares of Sony Corp Ord from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $45.74 price target on shares of Sony Corp Ord in a research note on Thursday, August 3rd. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Sony Corp Ord has a consensus rating of “Buy” and a consensus target price of $42.31.
About Sony Corp Ord
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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