Globeflex Capital L P Buys Shares of 27,700 Gen Digital Inc. $GEN

Globeflex Capital L P purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,700 shares of the company’s stock, valued at approximately $689,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Deutsche Bank AG acquired a new stake in Gen Digital in the 2nd quarter valued at $146,639,000. Bank of New York Mellon Corp acquired a new position in shares of Gen Digital during the 2nd quarter worth about $108,421,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Gen Digital by 45.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock worth $246,567,000 after buying an additional 4,115,676 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Gen Digital by 22.3% in the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock valued at $542,211,000 after acquiring an additional 3,640,451 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Gen Digital in the 4th quarter valued at about $70,248,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GEN has been the topic of a number of recent research reports. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Royal Bank Of Canada upped their price objective on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company increased their price objective on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and a consensus target price of $31.67.

Gen Digital Stock Up 0.7%

GEN opened at $29.31 on Wednesday. The stock’s fifty day simple moving average is $26.68 and its 200 day simple moving average is $23.66. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.13. The stock has a market cap of $17.54 billion, a PE ratio of 17.04 and a beta of 1.21. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. As a group, research analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital’s payout ratio is presently 29.07%.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal acquired 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was purchased at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director directly owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ondrej Vlcek sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the sale, the director owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This trade represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 277,902 shares of company stock worth $7,549,344. Insiders own 9.70% of the company’s stock.

About Gen Digital

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.