SummitTX Capital L.P. Invests $380,000 in Gen Digital Inc. $GEN

SummitTX Capital L.P. bought a new stake in Gen Digital Inc. (NASDAQ:GEN) during the first quarter, HoldingsChannel reports. The fund bought 20,197 shares of the company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gateway Wealth Partners LLC raised its position in Gen Digital by 110.2% during the 1st quarter. Gateway Wealth Partners LLC now owns 17,717 shares of the company’s stock worth $334,000 after buying an additional 9,287 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Gen Digital in the 1st quarter valued at $41,000. Entropy Technologies LP acquired a new stake in shares of Gen Digital in the first quarter worth $3,058,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Gen Digital by 56.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 34,629 shares of the company’s stock worth $652,000 after purchasing an additional 12,444 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Gen Digital by 341.7% during the first 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 during the last quarter. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Price Performance

NASDAQ:GEN opened at $27.45 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.07. Gen Digital Inc. has a 52 week low of $17.78 and a 52 week high of $32.22. The stock’s 50-day moving average price is $25.62 and its 200-day moving average price is $23.26. The stock has a market capitalization of $16.43 billion, a PE ratio of 17.37 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Gen Digital had a return on equity of 55.47% and a net margin of 19.46%.The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. Gen Digital’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. As a group, equities analysts expect that Gen Digital Inc. will post 2.61 EPS for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 18th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.8%. Gen Digital’s dividend payout ratio (DPR) is currently 31.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GEN shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $27.00 price target on shares of Gen Digital in a report on Thursday, July 16th. Wall Street Zen cut Gen Digital from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Argus raised Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. Jefferies Financial Group cut Gen Digital from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Barclays boosted their price target on Gen Digital from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One 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 MarketBeat, Gen Digital has a consensus rating of “Hold” and an average price target of $29.33.

Insider Buying and Selling at Gen Digital

In related news, Director John C. Chrystal acquired 3,000 shares of Gen Digital stock in a transaction on Thursday, June 4th. The stock was bought at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the transaction, 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. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ondrej Vlcek sold 100,000 shares of Gen Digital stock in a transaction dated 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 owned 3,832,724 shares in the company, valued at approximately $94,974,900.72. This trade represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.30% of the stock is currently owned by insiders.

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.