Martin & Co. Inc. TN Makes New Investment in Gen Digital Inc. $GEN
by Danessa Lincoln · The Markets DailyMartin & Co. Inc. TN bought a new position in Gen Digital Inc. (NASDAQ:GEN – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 168,213 shares of the company’s stock, valued at approximately $4,187,000.
Other large investors also recently made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new stake in shares of Gen Digital during the second quarter valued at approximately $2,567,000. Korea Investment CORP bought a new position in Gen Digital in the 2nd quarter worth approximately $3,977,000. Callan Family Office LLC bought a new position in Gen Digital in the 2nd quarter worth approximately $1,039,000. Paralel Advisors LLC acquired a new stake in Gen Digital in the 2nd quarter valued at approximately $3,053,000. Finally, Allworth Financial LP acquired a new stake in Gen Digital in the 2nd quarter valued at approximately $222,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on GEN shares. Weiss Ratings upgraded Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada raised their price target on Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. Barclays raised their price target on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Argus raised shares of Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.67.
View Our Latest Research Report on Gen Digital
Insider Buying and Selling
In other Gen Digital news, Director John C. Chrystal purchased 3,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, the director owned 31,419 shares in the company, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ondrej Vlcek sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $24.78, for a total transaction of $2,478,000.00. Following the completion of the sale, the director directly owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 230,440 shares of company stock valued at $6,172,946 over the last three months. Company insiders own 9.70% of the company’s stock.
Gen Digital Price Performance
Shares of NASDAQ:GEN opened at $28.93 on Friday. Gen Digital Inc. has a 12 month low of $17.78 and a 12 month high of $31.88. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 16.82 and a beta of 1.21. The stock’s 50 day moving average price is $26.49 and its 200 day moving average price is $23.57. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47.
Gen Digital (NASDAQ:GEN – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities research analysts anticipate that Gen Digital Inc. will post 2.64 earnings per share for the current fiscal year.
Gen Digital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s payout ratio is presently 29.07%.
Gen Digital Company 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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