Penserra Capital Management LLC raised its stake in Sony Corp. (NYSE:SNE) by 130.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,941 shares of the company’s stock after buying an additional 3,933 shares during the period. Penserra Capital Management LLC’s holdings in Sony Corp. were worth $230,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SNE. Northwestern Mutual Wealth Management Co. increased its position in Sony Corp. by 51.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,413 shares of the company’s stock valued at $100,000 after buying an additional 1,159 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in Sony Corp. during the second quarter valued at $127,000. Sei Investments Co. increased its position in Sony Corp. by 133.3% in the second quarter. Sei Investments Co. now owns 4,596 shares of the company’s stock valued at $135,000 after buying an additional 2,626 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Sony Corp. during the second quarter valued at $144,000. Finally, Raymond James Trust N.A. acquired a new position in Sony Corp. during the third quarter valued at $208,000. Institutional investors and hedge funds own 6.59% of the company’s stock.
Sony Corp. (NYSE:SNE) traded down 1.86% during mid-day trading on Friday, reaching $29.50. The company’s stock had a trading volume of 316,928 shares. Sony Corp. has a 12-month low of $19.90 and a 12-month high of $34.17. The firm’s 50 day moving average price is $31.39 and its 200 day moving average price is $30.67. The stock has a market cap of $37.23 billion, a price-to-earnings ratio of 71.43 and a beta of 2.03.
Sony Corp. (NYSE:SNE) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.11. Sony Corp. had a return on equity of 1.67% and a net margin of 0.67%. The firm earned $1,688.90 billion during the quarter, compared to analysts’ expectations of $16.90 billion. During the same period in the previous year, the business earned $26.10 earnings per share. The firm’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities analysts predict that Sony Corp. will post $0.52 earnings per share for the current year.
SNE has been the subject of a number of research reports. Zacks Investment Research downgraded Sony Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. TheStreet downgraded Sony Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, Vetr upgraded Sony Corp. from a “sell” rating to a “buy” rating and set a $35.49 price target for the company in a research report on Tuesday, September 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Sony Corp. has a consensus rating of “Buy” and an average target price of $37.25.
About Sony Corp.
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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