Entropy Technologies LP Takes Position in Gen Digital Inc. $GEN

Entropy Technologies LP bought a new position in Gen Digital Inc. (NASDAQ:GEN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 162,389 shares of the company’s stock, valued at approximately $3,058,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Gen Digital by 56.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,629 shares of the company’s stock valued at $652,000 after acquiring an additional 12,444 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Gen Digital by 341.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,044,438 shares of the company’s stock worth $19,667,000 after purchasing an additional 808,000 shares in the last quarter. Gabelli Funds LLC boosted its holdings in shares of Gen Digital by 6.4% during the 1st quarter. Gabelli Funds LLC now owns 165,548 shares of the company’s stock valued at $3,117,000 after purchasing an additional 9,972 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Gen Digital by 45.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,094,386 shares of the company’s stock valued at $246,567,000 after purchasing an additional 4,115,676 shares in the last quarter. Finally, Inceptionr LLC purchased a new position in shares of Gen Digital during the first quarter valued at about $214,000. Institutional investors own 81.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Jefferies Financial Group lowered Gen Digital from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings raised Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Gen Digital has an average rating of “Hold” and a consensus target price of $29.33.

Gen Digital Stock Up 3.1%

Shares of NASDAQ:GEN opened at $25.84 on Friday. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $32.22. The business has a 50 day simple moving average of $25.35 and a two-hundred day simple moving average of $23.23. The firm has a market capitalization of $15.57 billion, a PE ratio of 16.35 and a beta of 1.21. 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 (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts predict that Gen Digital Inc. will post 2.61 EPS for the current year.

Gen Digital Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Ondrej Vlcek sold 100,000 shares of the business’s 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 completion of the sale, the director directly owned 3,832,724 shares of the company’s stock, valued at approximately $94,974,900.72. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Chrystal purchased 3,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was 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. The trade was a 10.56% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 9.30% of the company’s stock.

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.