WCM Investment Management LLC Boosts Stake in Sony Corporation $SONY

WCM Investment Management LLC grew its stake in shares of Sony Corporation (NYSE:SONY) by 337.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,949,592 shares of the company’s stock after buying an additional 1,504,035 shares during the period. WCM Investment Management LLC’s holdings in Sony were worth $38,836,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SONY. Baker Tilly Wealth Management LLC grew its position in Sony by 3.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 11,655 shares of the company’s stock worth $298,000 after acquiring an additional 409 shares in the last quarter. Glenmede Investment Management LP raised its position in Sony by 1.0% during the third quarter. Glenmede Investment Management LP now owns 42,478 shares of the company’s stock valued at $1,223,000 after purchasing an additional 416 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in Sony by 1.1% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 40,335 shares of the company’s stock valued at $1,033,000 after purchasing an additional 433 shares in the last quarter. Nicolet Advisory Services LLC lifted its stake in Sony by 2.5% during the fourth quarter. Nicolet Advisory Services LLC now owns 18,097 shares of the company’s stock worth $456,000 after purchasing an additional 440 shares during the last quarter. Finally, Binnacle Investments Inc lifted its stake in Sony by 81.7% during the third quarter. Binnacle Investments Inc now owns 1,032 shares of the company’s stock worth $30,000 after purchasing an additional 464 shares during the last quarter. 14.05% of the stock is owned by institutional investors.

Sony Price Performance

Shares of Sony stock opened at $21.16 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.94 and a current ratio of 1.18. Sony Corporation has a 52-week low of $19.32 and a 52-week high of $30.34. The company has a fifty day moving average of $21.26 and a 200-day moving average of $21.79. The stock has a market capitalization of $124.99 billion, a price-to-earnings ratio of -105.77, a price-to-earnings-growth ratio of 1.68 and a beta of 0.94.

Sony (NYSE:SONY) last issued its earnings results on Friday, May 8th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.13). The business had revenue of $19.15 billion during the quarter, compared to analysts’ expectations of $18.43 billion. Sony had a positive return on equity of 12.20% and a negative net margin of 2.61%.Sony’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $32.86 EPS. Equities research analysts expect that Sony Corporation will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SONY shares. Benchmark reiterated a “buy” rating on shares of Sony in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of Sony in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.00.

Insider Buying and Selling at Sony

In other news, insider Tsuyoshi Kodera sold 51,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $20.54, for a total value of $1,047,540.00. Following the completion of the sale, the insider owned 27,553 shares of the company’s stock, valued at approximately $565,938.62. The trade was a 64.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hiroki Totoki sold 225,000 shares of the stock in a transaction dated Friday, July 3rd. The shares were sold at an average price of $21.02, for a total value of $4,729,500.00. Following the sale, the chief executive officer owned 173,250 shares of the company’s stock, valued at $3,641,715. This represents a 56.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 771,838 shares of company stock valued at $16,866,580. 7.00% of the stock is currently owned by insiders.

Sony Company Profile

Sony Group Corporation (NYSE: SONY) is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Founded in 1946 by Masaru Ibuka and Akio Morita, Sony has grown from an electronics maker into a diversified global company with operations spanning consumer electronics, entertainment, gaming, semiconductors and financial services. The company’s shares trade in Japan and its American Depositary Receipts trade on the New York Stock Exchange under the ticker SONY.

Sony’s primary businesses include Electronics Products & Solutions, which covers televisions, audio equipment, digital cameras and professional broadcast systems; Game & Network Services, anchored by the PlayStation platform, consoles, software and online services; Music and Pictures, through Sony Music Entertainment and Sony Pictures Entertainment, producing, distributing and licensing recorded music, film and television content; Imaging & Sensing Solutions, which develops CMOS image sensors and other semiconductor components; and Financial Services, offering life insurance, banking and other financial products in Japan.