OP Asset Management Ltd Takes Position in Gen Digital Inc. $GEN

OP Asset Management Ltd purchased a new stake in Gen Digital Inc. (NASDAQ:GEN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 51,773 shares of the company’s stock, valued at approximately $975,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Gen Digital by 1.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after purchasing an additional 28,522 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Gen Digital in the first quarter valued at $205,000. Woodline Partners LP boosted its position in shares of Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after buying an additional 7,562 shares during the period. Focus Partners Wealth boosted its position in shares of Gen Digital by 9.7% in the first quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock worth $593,000 after buying an additional 1,980 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Gen Digital by 221.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock valued at $46,000 after buying an additional 1,183 shares in the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Up 2.4%

Shares of Gen Digital stock opened at $25.04 on Tuesday. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of 15.85 and a beta of 1.20. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.40 and a quick ratio of 0.40. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $32.22. The stock has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $23.37.

Gen Digital (NASDAQ:GEN) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm’s revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. 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. On average, equities research analysts expect that Gen Digital Inc. will post 2.59 earnings per share 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 paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, May 18th. Gen Digital’s payout ratio is presently 31.65%.

Insiders Place Their Bets

In other Gen Digital news, Director Ondrej Vlcek sold 100,000 shares of the stock in a transaction on 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 transaction, the director directly owned 3,832,724 shares of the company’s stock, valued at $94,974,900.72. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Chrystal bought 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price 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 disclosure for this purchase is available in the SEC filing. Corporate insiders own 9.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GEN shares. Barclays upped their price target on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Wells Fargo & Company started coverage on Gen Digital in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 target price on the stock. Royal Bank Of Canada increased their price target on shares of Gen Digital from $22.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, Jefferies Financial Group cut shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Gen Digital has an average rating of “Hold” and an average price target of $31.29.

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.