Gen Digital Inc. (NASDAQ:GEN) Shares Sold by CenterBook Partners LP

CenterBook Partners LP decreased its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 41.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,734 shares of the company's stock after selling 10,572 shares during the period. CenterBook Partners LP's holdings in Gen Digital were worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Catalyst Capital Advisors LLC lifted its stake in shares of Gen Digital by 117.6% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after buying an additional 854 shares in the last quarter. Tsfg LLC purchased a new stake in shares of Gen Digital during the 1st quarter valued at about $52,000. Mather Group LLC. boosted its stake in shares of Gen Digital by 26.6% during the 1st quarter. Mather Group LLC. now owns 3,730 shares of the company's stock worth $99,000 after purchasing an additional 783 shares during the period. Curat Global LLC bought a new stake in Gen Digital in the first quarter worth about $154,000. Finally, Sagespring Wealth Partners LLC bought a new position in Gen Digital in the 1st quarter valued at $212,000. Institutional investors own 81.38% of the company's stock.

Gen Digital Price Performance

Shares of Gen Digital stock traded up $0.13 on Friday, hitting $30.27. The company's stock had a trading volume of 3,742,498 shares, compared to its average volume of 3,764,254. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The firm has a fifty day moving average price of $29.19 and a 200-day moving average price of $27.57. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital Inc. has a 1 year low of $22.74 and a 1 year high of $31.72.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. Gen Digital had a net margin of 16.34% and a return on equity of 59.38%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $999.48 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a yield of 1.65%. Gen Digital's dividend payout ratio is presently 48.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GEN shares. Evercore ISI started coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 target price on the stock. Royal Bank Of Canada increased their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th. B. Riley assumed coverage on shares of Gen Digital in a research note on Monday. They issued a "buy" rating and a $46.00 target price for the company. Morgan Stanley lowered their target price on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays lifted their price objective on shares of Gen Digital from $30.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Monday. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Transactions at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director directly owned 34,860 shares in the company, valued at $1,002,573.60. The trade was a 47.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.20% of the company's stock.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.