2. Sony Group Corporation (NYSE:SONY)
Number of Hedge Fund Holders: 19
Market Capitalization as of December 1: $148.96 billion
Sony Group Corporation (NYSE:SONY) is often referred to as Japan’s fairly priced big tech company, and it is also considered to be underrated by some analysts. Sony Group Corporation (NYSE:SONY) is a multinational conglomerate from Tokyo, positioned as one of the major Japanese technology firms. Sony Group Corporation (NYSE:SONY) is one of the largest global manufacturers of consumer electronics and a strong media entertainment company.
Mario Gabelli’s GAMCO Investors is the largest stakeholder of Sony Group Corporation (NYSE:SONY) as of September this year, holding a $209.2 million position in the company. Overall, 19 hedge funds in the Q3 database of Insider Monkey were bullish on Sony Group Corporation (NYSE:SONY), with total stakes amounting to approximately $389 million.
Financial results for the second quarter ended September 30 were announced by Sony Group Corporation (NYSE:SONY) on October 28. Revenue for the period totaled 2369.4 billion yen, gaining 13% year-over-year. The per share net income attributable to common shareholders totaled 170.26 yen, which was down by 196.82 yen as compared to the preceding-year quarter.
Sony Group Corporation (NYSE:SONY) announced on October 6 that it would launch its own Edge AI Platform Service, namely AITRIOS, to develop and implement AI-driven sensing solutions.
Here is what Cooper Investors has to say about Sony Group Corporation (NYSE:SONY) in its Q2 2021 investor letter:
“Firstly gaming, an area that was already growing in global importance before the pandemic but whose development has only accelerated, with the size of the US video game industry eclipsing movies and music combined in 2020. The portfolio has exposure to this area through investments in Sony (Sony Interactive, producer of PlayStation consoles and games).The first half of 2021 has seen deal activity reaching record levels, around US$60bn combining both M&A and public offerings. While some giant ecosystem owners like Microsoft have made large bets (e.g. the March US$7.5bn deal for Zenimax) we prefer the cautious approach of Sony taking several smaller but more strategic investments. Examples include the additional US$200mn participation in Epic Games (creator of the Unreal Engine and Fortnite) in March of this year, or the recent purchase of Finland’s oldest gaming studio, Housemarque. The latter case represents a good example of Sony being both a ‘safe haven’ and a source of scale and support for small but proven studios to retain their culture and grow into potential triple-A game developers over time.”
