GAMMA Investing LLC Boosts Stock Holdings in Gen Digital Inc. (NASDAQ:GEN)

GAMMA Investing LLC boosted its position in Gen Digital Inc. (NASDAQ:GEN) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,139 shares of the company’s stock after purchasing an additional 1,593 shares during the period. GAMMA Investing LLC’s holdings in Gen Digital were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in shares of Gen Digital by 6.6% in the first quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock valued at $29,627,000 after buying an additional 69,558 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gen Digital in the fourth quarter valued at about $14,367,000. QSM Asset Management Ltd purchased a new position in Gen Digital in the 4th quarter valued at about $5,373,000. Czech National Bank grew its holdings in Gen Digital by 5.9% during the 1st quarter. Czech National Bank now owns 124,568 shares of the company’s stock worth $3,306,000 after acquiring an additional 6,995 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Gen Digital by 98.8% during the fourth quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after purchasing an additional 56,993 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Transactions at Gen Digital

In related news, Director Nora Denzel sold 31,646 shares of Gen Digital stock in a transaction that occurred 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 transaction, the director directly owned 34,860 shares of the company’s stock, valued at $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.20% of the stock is currently owned by company insiders.

Gen Digital Stock Performance

Shares of Gen Digital stock opened at $29.81 on Thursday. The stock’s 50-day moving average is $28.31 and its 200-day moving average is $27.41. Gen Digital Inc. has a one year low of $22.74 and a one year 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 firm has a market cap of $18.49 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 EPS. Equities analysts predict that Gen Digital Inc. will post 2.05 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were given a $0.125 dividend. The ex-dividend date was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.68%. Gen Digital’s dividend payout ratio is currently 48.08%.

Analysts Set New Price Targets

GEN has been the topic of a number of research analyst reports. Wall Street Zen raised Gen Digital from a “buy” rating to a “strong-buy” rating in a report on Friday, June 27th. Morgan Stanley cut their target price on 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 raised their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 7th. Finally, Evercore ISI assumed coverage on Gen Digital in a research note on Tuesday. They set an “outperform” rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gen Digital has an average rating of “Buy” and a consensus price target of $30.00.

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.