Redwood Investment Management LLC Buys Shares of 46,846 Gen Digital Inc. $GEN

Redwood Investment Management LLC purchased a new position in shares of Gen Digital Inc. (NASDAQ:GEN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,846 shares of the company’s stock, valued at approximately $1,166,000.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in Gen Digital in the 4th quarter valued at $27,000. Grove Bank & Trust lifted its stake in shares of Gen Digital by 452.2% in the 2nd quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after acquiring an additional 927 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Gen Digital in the second quarter valued at about $32,000. Weiss Asset Management LP acquired a new position in shares of Gen Digital during the first quarter worth about $41,000. Finally, TD Private Client Wealth LLC raised its holdings in Gen Digital by 65.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock worth $42,000 after purchasing an additional 611 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Stock Up 1.1%

Gen Digital stock opened at $29.64 on Thursday. Gen Digital Inc. has a fifty-two week low of $17.78 and a fifty-two week high of $30.93. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 17.23 and a beta of 1.21. The stock’s fifty day moving average is $26.79 and its two-hundred day moving average is $23.71. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’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. Analysts predict that Gen Digital Inc. will post 2.64 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $0.50 dividend on an annualized basis and a yield of 1.7%. Gen Digital’s dividend payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEN. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Wells Fargo & Company lifted their price target on Gen Digital from $22.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Barclays upped their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Argus raised shares of Gen Digital to a “strong-buy” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.67.

Insider Buying and Selling at Gen Digital

In related news, insider Travis Michael Witteveen sold 30,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Chrystal acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were bought at an average price of $27.06 per share, with a total value of $81,180.00. Following the transaction, the director owned 31,419 shares in the company, valued at $850,198.14. This represents a 10.56% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 277,902 shares of company stock worth $7,549,344. 9.70% of the stock is owned by insiders.

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.