Sony Corp. (SNE) Position Decreased by Delta Capital Management LLC
Delta Capital Management LLC decreased its position in Sony Corp. (NYSE:SNE) by 13.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,384 shares of the company’s stock after selling 18,006 shares during the period. Sony Corp. makes up about 2.6% of Delta Capital Management LLC’s portfolio, making the stock its 11th largest position. Delta Capital Management LLC’s holdings in Sony Corp. were worth $3,387,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Sony Corp. by 3.0% in the first quarter. Renaissance Technologies LLC now owns 1,973,900 shares of the company’s stock worth $50,769,000 after buying an additional 58,300 shares during the last quarter. LMR Partners LLP purchased a new stake in Sony Corp. during the second quarter worth $1,124,000. Eqis Capital Management Inc. purchased a new stake in Sony Corp. during the second quarter worth $300,000. Bayesian Capital Management LP purchased a new stake in Sony Corp. during the first quarter worth $427,000. Finally, Bank of Montreal Can purchased a new stake in Sony Corp. during the second quarter worth $945,000. Hedge funds and other institutional investors own 6.60% of the company’s stock.
Sony Corp. (NYSE:SNE) traded down 1.55% during midday trading on Wednesday, hitting $32.98. The stock had a trading volume of 296,317 shares. Sony Corp. has a 12-month low of $19.90 and a 12-month high of $34.17. The company has a market cap of $41.61 billion, a price-to-earnings ratio of 50.90 and a beta of 1.85. The company has a 50-day moving average price of $32.87 and a 200-day moving average price of $29.73.
Sony Corp. (NYSE:SNE) last posted its quarterly earnings data on Friday, July 29th. The company reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $16.72. Sony Corp. had a return on equity of 2.52% and a net margin of 1.02%. The company had revenue of $1,613.20 billion for the quarter, compared to the consensus estimate of $1,682.98 billion. During the same period in the previous year, the business earned $70.52 EPS. Sony Corp.’s revenue for the quarter was down 10.8% compared to the same quarter last year. Equities analysts anticipate that Sony Corp. will post $0.63 EPS for the current year.
A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Sony Corp. from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Wednesday, September 28th. Vetr raised Sony Corp. from a “sell” rating to a “buy” rating and set a $35.49 price target for the company in a report on Tuesday, September 6th. TheStreet raised Sony Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. Deutsche Bank AG raised Sony Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Sony Corp. in a report on Thursday, June 30th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Sony Corp. currently has a consensus rating of “Buy” and a consensus target price of $37.25.
Sony Corp. Company 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, Devices, Pictures, Music, Financial Services and All Other.
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