9,801 Shares in Gen Digital Inc. (NASDAQ:GEN) Purchased by Choreo LLC

Key Points

• Choreo LLC purchased 9,801 shares of Gen Digital Inc. for approximately $260,000 during the first quarter, highlighting ongoing interest from institutional investors.
• Gen Digital's stock is currently seeing a consensus rating of "Moderate Buy" with a target price of $33.60, according to market analysts.
• Insider Nora Denzel sold 31,646 shares at an average price of $28.76, decreasing her position by 47.58%, indicating notable insider transactions at the company.

Choreo LLC acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,801 shares of the company's stock, valued at approximately $260,000.

Other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. boosted its holdings in shares of Gen Digital by 1.5% in the 1st quarter. Alps Advisors Inc. now owns 31,540 shares of the company's stock worth $837,000 after buying an additional 465 shares during the last quarter. Greenleaf Trust lifted its holdings in Gen Digital by 3.9% during the first quarter. Greenleaf Trust now owns 18,001 shares of the company's stock valued at $478,000 after purchasing an additional 668 shares during the last quarter. Mather Group LLC. lifted its holdings in Gen Digital by 26.6% during the first quarter. Mather Group LLC. now owns 3,730 shares of the company's stock valued at $99,000 after purchasing an additional 783 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in Gen Digital by 117.6% during the first quarter. Catalyst Capital Advisors LLC now owns 1,580 shares of the company's stock valued at $42,000 after purchasing an additional 854 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Gen Digital by 1.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 53,783 shares of the company's stock valued at $1,427,000 after purchasing an additional 882 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Price Performance

NASDAQ GEN traded up $0.26 on Monday, reaching $29.05. 936,473 shares of the company's stock traded hands, compared to its average volume of 4,083,892. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day simple moving average of $29.54 and a 200 day simple moving average of $27.78. The stock has a market cap of $17.88 billion, a PE ratio of 27.92, a P/E/G ratio of 1.05 and a beta of 1.00.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations of $999.48 million. During the same period last year, the business earned $0.53 earnings per share. The business's quarterly revenue was up 4.4% on a year-over-year basis. As a group, research analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is currently 48.08%.

Analyst Ratings Changes

GEN has been the topic of several analyst reports. Wall Street Zen cut Gen Digital from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 5th. Morgan Stanley decreased their price target on Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Barclays upped their price target on Gen Digital from $30.00 to $32.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Evercore ISI initiated coverage on Gen Digital in a research report on Tuesday, July 1st. They set an "outperform" rating and a $35.00 price target on the stock. Finally, Royal Bank Of Canada upped their price target on Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Gen Digital has a consensus rating of "Moderate Buy" and a consensus price target of $33.60.

Insider Activity

In related news, Director Nora Denzel sold 31,646 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the sale, the director owned 34,860 shares of the company's stock, valued at $1,002,573.60. This trade represents a 47.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.30% 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.