Freestone Grove Partners LP Purchases New Shares in Gen Digital Inc. $GEN

Freestone Grove Partners LP acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 142,733 shares of the company’s stock, valued at approximately $3,553,000.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC raised its holdings in shares of Gen Digital by 20.9% in the third quarter. Larson Financial Group LLC now owns 2,255 shares of the company’s stock valued at $64,000 after purchasing an additional 390 shares during the last quarter. Trust Co. of Vermont purchased a new position in Gen Digital during the second quarter worth about $32,000. EverSource Wealth Advisors LLC grew its position in Gen Digital by 14.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,376 shares of the company’s stock worth $64,000 after purchasing an additional 427 shares in the last quarter. Vident Advisory LLC increased its stake in Gen Digital by 1.6% in the 3rd quarter. Vident Advisory LLC now owns 26,906 shares of the company’s stock valued at $764,000 after buying an additional 428 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Gen Digital by 5.9% during the 4th quarter. Fisher Asset Management LLC now owns 7,735 shares of the company’s stock worth $210,000 after buying an additional 430 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GEN has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on Gen Digital from $27.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Finally, Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.67.

Insider Buying and Selling

In related news, Director John C. Chrystal bought 3,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was acquired at an average price of $27.06 per share, for a total transaction of $81,180.00. Following the purchase, the director directly owned 31,419 shares in the company, valued at $850,198.14. This trade represents a 10.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Travis Michael Witteveen sold 30,000 shares of Gen Digital stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the transaction, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 630,260 shares of company stock valued at $17,967,726. Corporate insiders own 9.70% of the company’s stock.

Gen Digital Stock Up 1.7%

Gen Digital stock opened at $31.02 on Friday. The firm has a 50 day simple moving average of $27.06 and a 200 day simple moving average of $23.81. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00. Gen Digital Inc. has a 1-year low of $17.78 and a 1-year high of $31.29. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 18.03 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Thursday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. 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. On average, analysts predict that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Monday, August 17th. Gen Digital’s payout ratio is presently 29.07%.

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.