David R. Rahn & Associates Inc. Acquires Shares of 40,744 Sony Corp Ord (SNE)

David R. Rahn & Associates Inc. bought a new stake in shares of Sony Corp Ord (NYSE:SNE) during the second quarter, according to its most recent filing with the SEC. The fund bought 40,744 shares of the company’s stock, valued at approximately $1,556,000.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Sony Corp Ord during the fourth quarter valued at approximately $3,017,000. Raymond James Trust N.A. bought a new stake in shares of Sony Corp Ord during the first quarter valued at approximately $205,000. Quadrant Capital Group LLC raised its stake in shares of Sony Corp Ord by 154.9% in the first quarter. Quadrant Capital Group LLC now owns 6,195 shares of the company’s stock valued at $198,000 after buying an additional 3,765 shares during the last quarter. Highland Capital Management LLC raised its stake in shares of Sony Corp Ord by 13.5% in the first quarter. Highland Capital Management LLC now owns 97,190 shares of the company’s stock valued at $3,278,000 after buying an additional 11,540 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Sony Corp Ord by 29.2% in the first quarter. Bank of Montreal Can now owns 32,471 shares of the company’s stock valued at $1,094,000 after buying an additional 7,348 shares during the last quarter. 6.96% of the stock is owned by hedge funds and other institutional investors.

Shares of Sony Corp Ord (NYSE SNE) traded up 0.31% during mid-day trading on Friday, reaching $39.00. 471,195 shares of the company’s stock were exchanged. The stock has a market cap of $49.26 billion, a price-to-earnings ratio of 41.76 and a beta of 1.73. Sony Corp Ord has a 52 week low of $27.72 and a 52 week high of $41.65. The stock has a 50 day moving average price of $39.61 and a 200 day moving average price of $35.03.

Sony Corp Ord (NYSE:SNE) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The business had revenue of $1,858.10 billion for the quarter, compared to the consensus estimate of $1,735.86 billion. Sony Corp Ord had a return on equity of 4.17% and a net margin of 1.67%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $16.44 EPS. Equities research analysts predict that Sony Corp Ord will post $2.18 EPS for the current year.

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SNE has been the topic of several recent research reports. BidaskClub cut shares of Sony Corp Ord from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 8th. Jefferies Group LLC reissued a “buy” rating and set a $45.74 price target on shares of Sony Corp Ord in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Sony Corp Ord from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating on shares of Sony Corp Ord in a report on Monday, May 1st. Finally, Sanford C. Bernstein started coverage on shares of Sony Corp Ord in a report on Tuesday, April 25th. They issued an “outperform” rating and a $41.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $42.31.

About Sony Corp Ord

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.

Institutional Ownership by Quarter for Sony Corp Ord (NYSE:SNE)

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