Eventide Asset Management LLC Makes New Investment in Gen Digital Inc. $GEN

Key Points

• Eventide Asset Management LLC has acquired 69,761 shares of Gen Digital Inc., valued at approximately $1.85 million, increasing institutional ownership of the company to 81.38%.
• Gen Digital reported a 30.3% increase in revenue year-over-year, with EPS of $0.64, surpassing analysts' expectations.
• The company declared a quarterly dividend of $0.125, with an annualized yield of 1.7%, scheduled for payment on September 10th.

Eventide Asset Management LLC acquired a new stake in Gen Digital Inc. (NASDAQ:GEN - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 69,761 shares of the company's stock, valued at approximately $1,850,000.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in Gen Digital during the 1st quarter worth $299,562,000. Boston Partners increased its stake in shares of Gen Digital by 37.3% during the first quarter. Boston Partners now owns 13,358,167 shares of the company's stock worth $354,456,000 after acquiring an additional 3,631,052 shares during the period. Alyeska Investment Group L.P. purchased a new position in Gen Digital during the first quarter worth about $71,287,000. Vanguard Group Inc. lifted its position in Gen Digital by 3.7% in the first quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company's stock valued at $1,849,593,000 after purchasing an additional 2,513,464 shares during the period. Finally, Northern Trust Corp boosted its holdings in Gen Digital by 14.3% in the 1st quarter. Northern Trust Corp now owns 7,689,268 shares of the company's stock valued at $204,073,000 after purchasing an additional 962,228 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Price Performance

Shares of NASDAQ GEN traded down $0.44 during trading on Tuesday, reaching $29.47. The company had a trading volume of 3,004,455 shares, compared to its average volume of 4,109,930. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.63. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22. The stock has a 50-day moving average price of $30.24 and a two-hundred day moving average price of $28.31. The stock has a market capitalization of $18.15 billion, a PE ratio of 30.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.99.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.04. The firm had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $1.19 billion. Gen Digital had a return on equity of 57.99% and a net margin of 14.12%.The firm's quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Gen Digital has set its Q2 2026 guidance at 0.600-0.620 EPS. FY 2026 guidance at 2.490-2.560 EPS. As a group, sell-side analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 18th will be given a dividend of $0.125 per share. The ex-dividend date is Monday, August 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital's dividend payout ratio (DPR) is 51.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GEN. Evercore ISI initiated coverage on Gen Digital in a research note on Tuesday, July 1st. They set an "outperform" rating and a $35.00 target price for the company. B. Riley assumed coverage on Gen Digital in a report on Monday, July 14th. They issued a "buy" rating and a $46.00 target price for the company. Wall Street Zen cut shares of Gen Digital from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Royal Bank Of Canada raised their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Finally, Barclays boosted their price objective on shares of Gen Digital from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.50.

Gen Digital 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.