Sage Rhino Capital LLC Takes $214,000 Position in Sony Corp (NYSE:SNE)

Sage Rhino Capital LLC acquired a new stake in Sony Corp (NYSE:SNE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,094 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Sony by 98.0% in the second quarter. Allworth Financial LP now owns 404 shares of the company’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Global Retirement Partners LLC acquired a new stake in Sony during the second quarter worth about $36,000. Shine Investment Advisory Services Inc. grew its holdings in Sony by 188.6% during the second quarter. Shine Investment Advisory Services Inc. now owns 534 shares of the company’s stock worth $37,000 after acquiring an additional 349 shares during the period. Truewealth LLC grew its holdings in Sony by 28.9% during the second quarter. Truewealth LLC now owns 584 shares of the company’s stock worth $40,000 after acquiring an additional 131 shares during the period. Finally, CFM Wealth Partners LLC acquired a new stake in Sony during the first quarter worth about $45,000. 7.66% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SNE traded down $0.56 during midday trading on Friday, hitting $77.96. The stock had a trading volume of 1,113,443 shares, compared to its average volume of 886,059. The company has a market capitalization of $97.51 billion, a PE ratio of 18.39, a P/E/G ratio of 4.34 and a beta of 1.08. The stock has a 50 day simple moving average of $72.74 and a 200-day simple moving average of $66.51. Sony Corp has a 1 year low of $50.94 and a 1 year high of $78.76. The company has a quick ratio of 0.82, a current ratio of 0.92 and a debt-to-equity ratio of 0.20.

Sony (NYSE:SNE) last released its earnings results on Wednesday, May 13th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). Sony had a net margin of 7.05% and a return on equity of 12.38%. The firm had revenue of $16.06 billion during the quarter, compared to analysts’ expectations of $17 billion. As a group, analysts expect that Sony Corp will post 3.07 earnings per share for the current fiscal year.

SNE has been the topic of several analyst reports. ValuEngine raised Sony from a “sell” rating to a “hold” rating in a report on Friday, May 15th. Goldman Sachs Group initiated coverage on Sony in a report on Wednesday. They set a “conviction-buy” rating on the stock. Macquarie lowered Sony from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 13th. Finally, Oppenheimer initiated coverage on Sony in a report on Friday, June 12th. They issued a “buy” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $81.00.

Sony Company Profile

Sony Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets worldwide. The company offers network services related to games, videos, and music contents; and home and portable game consoles, packaged software, and peripheral devices, as well as broadcast/professional, integrated circuit card technology, and medical and imaging device solutions.

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Institutional Ownership by Quarter for Sony (NYSE:SNE)

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