GAMMA Investing LLC Has $8.55 Million Position in Gen Digital Inc. (NASDAQ:GEN)

GAMMA Investing LLC increased its stake in shares of Gen Digital Inc. (NASDAQ:GEN) by 2,954.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 322,169 shares of the company’s stock after purchasing 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 institutional investors have also made changes to their positions in the stock. Kera Capital Partners Inc. lifted its stake in Gen Digital by 41.7% in the first quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock valued at $313,000 after acquiring an additional 3,466 shares during the last quarter. Brighton Jones LLC lifted its stake in 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 acquiring an additional 1,299 shares during the last quarter. First Hawaiian Bank lifted its stake in Gen Digital by 129.6% in the first 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 during the last quarter. Wellington Management Group LLP lifted its stake in Gen Digital by 98.8% in the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after acquiring an additional 56,993 shares during the last quarter. Finally, QSM Asset Management Ltd acquired a new stake in Gen Digital in the fourth quarter valued at approximately $5,373,000. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the transaction, the director now owns 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. The trade was 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 hyperlink. 12.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on GEN shares. Morgan Stanley reduced 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. Royal Bank of Canada lifted their price target 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.

Gen Digital Trading Up 0.7%

NASDAQ:GEN opened at $29.33 on Monday. Gen Digital Inc. has a 12 month low of $22.74 and a 12 month high of $31.72. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 28.76, a P/E/G 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 company’s 50 day moving average is $26.53 and its 200-day moving average is $27.50.

Gen Digital (NASDAQ:GEN) last released 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 16.32% and a return on equity of 58.83%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. During the same quarter last year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Monday, May 19th. Gen Digital’s dividend payout ratio (DPR) is currently 48.08%.

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.