Alta Fundamental Advisers LLC Boosts Stake in Genworth Financial, Inc. (NYSE:GNW)

Key Points

• Alta Fundamental Advisers LLC increased its stake in Genworth Financial by 38.3%, now holding a total of 531,080 shares, making it the 15th largest holding in their portfolio.
• Genworth Financial's stock has shown positive performance, recently posting an EPS of $0.16, exceeding estimates by $0.11, with quarterly revenue of $1.80 billion.
• Institutional investors own 81.85% of Genworth Financial, indicating strong institutional interest in the company's shares.

Alta Fundamental Advisers LLC increased its holdings in shares of Genworth Financial, Inc. (NYSE:GNW - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,080 shares of the financial services provider's stock after buying an additional 147,080 shares during the quarter. Genworth Financial accounts for about 2.4% of Alta Fundamental Advisers LLC's portfolio, making the stock its 15th largest position. Alta Fundamental Advisers LLC owned approximately 0.13% of Genworth Financial worth $3,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC raised its stake in Genworth Financial by 69.5% in the 1st quarter. Byrne Asset Management LLC now owns 7,595 shares of the financial services provider's stock worth $54,000 after acquiring an additional 3,115 shares during the last quarter. Abel Hall LLC purchased a new position in Genworth Financial in the 1st quarter worth $71,000. Blueshift Asset Management LLC purchased a new position in Genworth Financial in the 1st quarter worth $71,000. Pennington Partners & CO. LLC purchased a new position in Genworth Financial in the 4th quarter worth $84,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Genworth Financial in the 4th quarter worth $86,000. 81.85% of the stock is currently owned by hedge funds and other institutional investors.

Genworth Financial Price Performance

GNW traded down $0.04 during midday trading on Thursday, hitting $8.55. 2,587,785 shares of the company traded hands, compared to its average volume of 6,288,629. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 18.99 and a beta of 1.12. Genworth Financial, Inc. has a 52-week low of $5.99 and a 52-week high of $8.60. The business has a 50 day simple moving average of $7.64 and a two-hundred day simple moving average of $7.16.

Genworth Financial (NYSE:GNW - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.11. The business had revenue of $1.80 billion for the quarter. Genworth Financial had a net margin of 2.61% and a return on equity of 1.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Genworth Financial from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Genworth Financial from $9.00 to $9.50 and gave the company an "outperform" rating in a report on Wednesday, July 9th.

About Genworth Financial

Genworth Financial, Inc, together with its subsidiaries, provides mortgage and long-term care insurance products in the United States and internationally. It operates in three segments: Enact, Long-Term Care Insurance, and Life and Annuities. The Enact segment offers private mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans; and pool mortgage insurance products.