5 Best Stocks to Buy According to Billionaire Mario Gabelli

4. Sony Group Corporation (NYSE:SONY)

GAMCO Investors’ Stake Value: $146,539,000

Percentage of GAMCO Investors’ 13F Portfolio: 1.6%

Number of Hedge Fund Holders: 26

The slow but continuous decline in videogame sales seems to be affecting Sony Group Corporation’s (NYSE:SONY) stock this year as it trades down by close to 19% year-to-date. According to Q2 2022 Games Market Dynamics US report published by the NPD Group, overall spending on video games in the US declined by 13% year-over-year to $12.35 billion in the second quarter of 2022.

On July 8, analysts at Macquarie upgraded Sony Group Corporation’s (NYSE:SONY) stock to ‘Outperform’ from ‘Neutral’.