Y Intercept Hong Kong Ltd Purchases New Position in Gen Digital Inc. $GEN

Y Intercept Hong Kong Ltd purchased a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 78,481 shares of the company’s stock, valued at approximately $1,478,000.

Several other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in Gen Digital in the fourth quarter valued at $27,000. TD Private Client Wealth LLC boosted its position in Gen Digital by 65.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after acquiring an additional 611 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after purchasing an additional 1,183 shares during the period. MUFG Securities EMEA plc purchased a new stake in Gen Digital in the second quarter worth $47,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Gen Digital by 47.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,756 shares of the company’s stock worth $50,000 after purchasing an additional 568 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gen Digital

In other news, Director Ondrej Vlcek sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the completion of the transaction, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Chrystal purchased 3,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the acquisition, the director owned 31,419 shares of the company’s stock, valued at approximately $850,198.14. This represents a 10.56% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 9.30% of the company’s stock.

Gen Digital Stock Down 0.3%

Gen Digital stock traded down $0.08 during trading hours on Friday, hitting $25.91. The stock had a trading volume of 2,796,719 shares, compared to its average volume of 6,160,020. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $15.61 billion, a P/E ratio of 16.40 and a beta of 1.21. Gen Digital Inc. has a 12-month low of $17.78 and a 12-month high of $32.22. The stock’s 50-day moving average price is $24.43 and its 200-day moving average price is $23.31.

Gen Digital (NASDAQ:GEN) last issued its earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a net margin of 19.46% and a return on equity of 55.47%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s 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. Equities research analysts anticipate that Gen Digital Inc. will post 2.59 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were given a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 annualized dividend and a yield of 1.9%. Gen Digital’s dividend payout ratio is 31.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Gen Digital in a report on Thursday, June 18th. Finally, Argus raised Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.29.

About Gen Digital

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.