Jolley Asset Management LLC Purchases New Stake in Sony Corp (NYSE:SNE)
Jolley Asset Management LLC purchased a new stake in Sony Corp (NYSE:SNE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 91,326 shares of the company’s stock, valued at approximately $4,785,000. Sony accounts for about 3.1% of Jolley Asset Management LLC’s holdings, making the stock its 12th largest holding.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lenox Wealth Management Inc. raised its holdings in Sony by 1.1% in the second quarter. Lenox Wealth Management Inc. now owns 26,632 shares of the company’s stock valued at $1,395,000 after buying an additional 277 shares during the period. Cornerstone Advisors Inc. raised its holdings in Sony by 32.2% in the second quarter. Cornerstone Advisors Inc. now owns 1,518 shares of the company’s stock valued at $80,000 after buying an additional 370 shares during the period. Arlington Partners LLC purchased a new position in Sony in the second quarter valued at approximately $30,000. First Allied Advisory Services Inc. raised its holdings in Sony by 14.2% in the fourth quarter. First Allied Advisory Services Inc. now owns 5,685 shares of the company’s stock valued at $274,000 after buying an additional 708 shares during the period. Finally, Atwood & Palmer Inc. raised its holdings in Sony by 0.3% in the first quarter. Atwood & Palmer Inc. now owns 287,686 shares of the company’s stock valued at $12,152,000 after buying an additional 781 shares during the period. Hedge funds and other institutional investors own 7.84% of the company’s stock.
NYSE:SNE traded down $0.50 during trading hours on Monday, hitting $54.30. The stock had a trading volume of 587,986 shares, compared to its average volume of 1,170,678. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.76 and a current ratio of 0.86. Sony Corp has a 1-year low of $41.91 and a 1-year high of $61.02. The firm has a 50 day simple moving average of $53.17. The company has a market capitalization of $69.24 billion, a P/E ratio of 8.44, a PEG ratio of 1.88 and a beta of 1.38.
SNE has been the topic of several research reports. Zacks Investment Research lowered shares of GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Jefferies Financial Group started coverage on shares of Pinduoduo in a research report on Monday, April 15th. They issued a “buy” rating and a $30.00 price objective for the company. Macquarie set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Finally, ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $50.32.
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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