Gen Digital (NASDAQ:GEN) Coverage Initiated by Analysts at Morgan Stanley

Research analysts at Morgan Stanley assumed coverage on shares of Gen Digital (NASDAQ:GEN) in a research note issued on Tuesday. The firm set an “equal weight” rating on the stock.

Separately, UBS Group upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Wednesday, December 4th.

Gen Digital Stock Down 1.2 %

GEN traded down $0.33 during trading on Tuesday, hitting $27.52. The company had a trading volume of 115,742 shares, compared to its average volume of 3,403,707. The company has a market cap of $16.96 billion, a PE ratio of 27.00, a P/E/G ratio of 1.19 and a beta of 0.92. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.35 and a quick ratio of 0.35. Gen Digital has a 1-year low of $19.58 and a 1-year high of $31.72. The business has a 50-day moving average of $27.41 and a 200-day moving average of $27.90.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings data on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. As a group, analysts forecast that Gen Digital will post 2.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEN. Brighton Jones LLC raised its holdings in Gen Digital by 5.4% during the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock worth $690,000 after purchasing an additional 1,299 shares in the last quarter. QSM Asset Management Ltd bought a new stake in shares of Gen Digital in the 4th quarter worth $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gen Digital in the 4th quarter worth $14,367,000. 81.38% of the stock is currently owned by institutional investors.

About Gen Digital

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.