Ellington Management Group LLC Invests $598,000 in Sony Corp (SNE)

Ellington Management Group LLC purchased a new stake in shares of Sony Corp (NYSE:SNE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,300 shares of the company’s stock, valued at approximately $598,000.

Several other institutional investors have also added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Sony during the 4th quarter valued at $88,068,000. Deutsche Bank AG raised its holdings in shares of Sony by 132.4% during the 4th quarter. Deutsche Bank AG now owns 1,516,484 shares of the company’s stock valued at $68,165,000 after purchasing an additional 863,884 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Sony by 68.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock valued at $51,505,000 after purchasing an additional 562,627 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Sony by 256.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock valued at $37,772,000 after purchasing an additional 732,847 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Sony by 10.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 821,330 shares of the company’s stock valued at $30,668,000 after purchasing an additional 79,906 shares in the last quarter. Institutional investors and hedge funds own 6.98% of the company’s stock.

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Sony Corp (SNE) opened at $50.07 on Wednesday. Sony Corp has a 12 month low of $31.29 and a 12 month high of $53.91. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $63,190.48, a price-to-earnings ratio of 13.61 and a beta of 1.45.

Sony (NYSE:SNE) last posted its earnings results on Friday, February 2nd. The company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.74. Sony had a net margin of 6.29% and a return on equity of 15.00%. The business had revenue of $2,672.32 billion for the quarter, compared to analyst estimates of $2,560.40 billion. During the same period last year, the business posted $15.55 EPS. Sony’s revenue was up 11.5% compared to the same quarter last year. equities analysts anticipate that Sony Corp will post 3.86 earnings per share for the current fiscal year.

SNE has been the topic of a number of recent research reports. ValuEngine upgraded shares of Sony from a “hold” rating to a “buy” rating in a report on Saturday, February 3rd. Zacks Investment Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a research note on Tuesday, January 2nd. Jefferies Group reiterated a “buy” rating and issued a $59.84 target price on shares of Sony in a research note on Friday, November 17th. Finally, JPMorgan Chase & Co. lowered shares of Sony from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $48.19.

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Sony 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, Semiconductors, Component, Films, Music, Financial Services and All Other.

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Institutional Ownership by Quarter for Sony (NYSE:SNE)

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