GAMMA Investing LLC boosted its position in Gen Digital Inc. (NASDAQ:GEN - Free Report) by 2,954.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 322,169 shares of the company's stock after buying an additional 311,623 shares during the quarter. GAMMA Investing LLC owned approximately 0.05% of Gen Digital worth $8,550,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in GEN. Brighton Jones LLC lifted its position in shares of Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after buying an additional 1,299 shares during the last quarter. Kera Capital Partners Inc. increased its holdings in shares of Gen Digital by 41.7% during the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company's stock worth $313,000 after purchasing an additional 3,466 shares during the period. First Hawaiian Bank raised its holdings in Gen Digital by 129.6% in the 1st quarter. First Hawaiian Bank now owns 75,278 shares of the company's stock valued at $1,998,000 after acquiring an additional 42,488 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company's stock valued at $3,140,000 after buying an additional 56,993 shares in the last quarter. Finally, QSM Asset Management Ltd acquired a new stake in Gen Digital in the fourth quarter valued at about $5,373,000. 81.38% of the stock is owned by institutional investors.
Gen Digital Trading Up 2.8%
Shares of GEN stock traded up $0.83 during mid-day trading on Thursday, reaching $30.27. 6,177,629 shares of the stock traded hands, compared to its average volume of 3,822,172. The company has a market cap of $18.77 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock's fifty day simple moving average is $26.77 and its two-hundred day simple moving average is $27.53. 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 posted its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. On average, research analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.
Gen Digital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 annualized dividend and a dividend yield of 1.65%. Gen Digital's payout ratio is 48.08%.
Analyst Ratings Changes
A number of research firms have recently weighed in on GEN. Morgan Stanley reduced their price target on shares of Gen Digital from $27.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada raised their target price on shares of Gen Digital from $28.00 to $30.00 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th.
Read Our Latest Stock Analysis on GEN
Insiders Place Their Bets
In related news, Director Nora Denzel sold 31,646 shares of the business's stock in a transaction dated 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 now directly owns 34,860 shares of the company's stock, valued at $1,002,573.60. The trade was a 47.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 12.20% of the company's stock.
Gen Digital Profile
(
Free Report)
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.
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