Lyrical Asset Management LP Sells 396,848 Shares of Gen Digital Inc. $GEN

Key Points

• Lyrical Asset Management LP cut its Gen Digital stake by 4.6% in the fourth quarter, selling 396,848 shares but still holding 8.15 million shares valued at about $221.5 million.
• Gen Digital reported better-than-expected quarterly results, with EPS of $0.67 and revenue of $1.28 billion, both ahead of analyst estimates. Revenue also rose 27% year over year.
• The company declared a quarterly dividend of $0.125 per share, and several analysts recently lifted their price targets or ratings, though the overall consensus remains Hold with an average target of $31.29.

Lyrical Asset Management LP lessened its holdings in shares of Gen Digital Inc. (NASDAQ:GEN - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,147,912 shares of the company's stock after selling 396,848 shares during the quarter. Gen Digital makes up 3.1% of Lyrical Asset Management LP's portfolio, making the stock its 13th biggest position. Lyrical Asset Management LP owned 1.35% of Gen Digital worth $221,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Syon Capital LLC raised its holdings in shares of Gen Digital by 4.6% during the fourth quarter. Syon Capital LLC now owns 25,147 shares of the company's stock valued at $684,000 after acquiring an additional 1,105 shares in the last quarter. ING Groep NV bought a new position in Gen Digital in the fourth quarter worth $612,000. Pinebridge Investments LLC bought a new position in Gen Digital in the fourth quarter worth $8,768,000. Vise Technologies Inc. raised its holdings in Gen Digital by 1.1% in the fourth quarter. Vise Technologies Inc. now owns 62,848 shares of the company's stock worth $1,709,000 after purchasing an additional 666 shares in the last quarter. Finally, Globeflex Capital L P raised its holdings in Gen Digital by 27.4% in the fourth quarter. Globeflex Capital L P now owns 28,485 shares of the company's stock worth $775,000 after purchasing an additional 6,133 shares in the last quarter. Institutional investors own 81.38% of the company's stock.

Insider Activity at Gen Digital

In related news, Director John C. Chrystal bought 3,000 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, with a total value of $81,180.00. Following the completion of the purchase, the director owned 31,419 shares in the company, valued at approximately $850,198.14. The trade was a 10.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GEN shares. Royal Bank Of Canada increased their price objective on Gen Digital from $22.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Argus upgraded Gen Digital to a "strong-buy" rating in a report on Friday, May 22nd. Wall Street Zen upgraded Gen Digital from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Zacks Research upgraded Gen Digital from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 18th. Finally, Barclays increased their price objective on Gen Digital from $26.00 to $27.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Gen Digital currently has an average rating of "Hold" and a consensus price target of $31.29.

Gen Digital Stock Performance

NASDAQ GEN opened at $26.28 on Monday. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $32.22. The stock has a market cap of $15.83 billion, a P/E ratio of 16.63 and a beta of 1.20. The stock's fifty day moving average price is $21.52 and its 200-day moving average price is $23.64. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.07.

Gen Digital (NASDAQ:GEN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The company's quarterly revenue was up 27.0% on a year-over-year basis. Gen Digital has set its Q1 2027 guidance at 0.680-0.700 EPS and its FY 2027 guidance at 2.850-2.950 EPS. As a group, equities analysts forecast that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 18th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, May 18th. Gen Digital's dividend payout ratio is currently 31.65%.

Gen Digital Profile

Gen Digital NASDAQ: GEN is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.

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