Short Interest in Sony Corp (SNE) Drops By 38.3%

Sony Corp (NYSE:SNE) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 773,239 shares, a decline of 38.3% from the February 15th total of 1,254,060 shares. Based on an average daily trading volume, of 928,082 shares, the days-to-cover ratio is presently 0.8 days.

Shares of Sony (NYSE:SNE) opened at $50.64 on Friday. Sony has a 1 year low of $31.32 and a 1 year high of $53.91. The firm has a market cap of $64,378.23, a price-to-earnings ratio of 13.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.92 and a quick ratio of 0.80.

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Sony (NYSE:SNE) last announced its quarterly earnings results on Friday, February 2nd. The company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.74. Sony had a net margin of 6.29% and a return on equity of 15.00%. The company had revenue of $2,672.32 billion for the quarter, compared to analysts’ expectations of $2,560.40 billion. During the same quarter in the previous year, the business posted $15.55 earnings per share. Sony’s quarterly revenue was up 11.5% on a year-over-year basis. analysts forecast that Sony will post 3.86 EPS for the current fiscal year.

Several research firms have recently commented on SNE. JPMorgan Chase & Co. downgraded shares of Sony from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Sony from a “hold” rating to a “strong-buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, January 2nd. ValuEngine upgraded shares of Sony from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Jefferies Group restated a “buy” rating and issued a $59.84 price target on shares of Sony in a research report on Friday, November 17th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Sony presently has an average rating of “Buy” and an average price target of $48.19.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gilder Gagnon Howe & Co. LLC bought a new position in Sony during the fourth quarter valued at $88,068,000. Deutsche Bank AG increased its position in Sony by 132.4% during the fourth quarter. Deutsche Bank AG now owns 1,516,484 shares of the company’s stock valued at $68,165,000 after acquiring an additional 863,884 shares during the last quarter. Ameriprise Financial Inc. increased its position in Sony by 256.4% during the third quarter. Ameriprise Financial Inc. now owns 1,018,618 shares of the company’s stock valued at $37,772,000 after acquiring an additional 732,847 shares during the last quarter. Bank of New York Mellon Corp increased its position in Sony by 68.9% during the third quarter. Bank of New York Mellon Corp now owns 1,379,352 shares of the company’s stock valued at $51,505,000 after acquiring an additional 562,627 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Sony during the third quarter valued at $16,993,000. Institutional investors own 6.98% of the company’s stock.

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About Sony

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, Semiconductors, Component, Films, Music, Financial Services and All Other.

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