Insider Selling: Gen Digital Inc. (NASDAQ:GEN) Director Sells $910,138.96 in Stock

Gen Digital Inc. (NASDAQ:GEN) Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total transaction of $910,138.96. Following the sale, the director now directly owns 34,860 shares of the company’s stock, valued at approximately $1,002,573.60. This represents a 47.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Gen Digital Price Performance

NASDAQ GEN opened at $27.60 on Thursday. Gen Digital Inc. has a 52 week low of $22.74 and a 52 week high of $31.72. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 3.29. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.19 and a beta of 1.00. The company has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $27.63.

Gen Digital (NASDAQ:GEN) last posted its earnings results on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $999.48 million. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. Gen Digital’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Monday, May 19th. Gen Digital’s dividend payout ratio is currently 48.08%.

Institutional Trading of Gen Digital

Institutional investors have recently made changes to their positions in the stock. CX Institutional lifted its stake in shares of Gen Digital by 4.1% in the 1st quarter. CX Institutional now owns 50,686 shares of the company’s stock worth $1,345,000 after acquiring an additional 1,989 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Gen Digital in the 1st quarter worth approximately $273,000. GAMMA Investing LLC lifted its stake in Gen Digital by 2,954.9% during the first quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock valued at $8,550,000 after purchasing an additional 311,623 shares during the last quarter. Vest Financial LLC lifted its stake in Gen Digital by 61.9% during the first quarter. Vest Financial LLC now owns 13,689 shares of the company’s stock valued at $363,000 after purchasing an additional 5,232 shares during the last quarter. Finally, Curat Global LLC acquired a new stake in Gen Digital during the first quarter valued at approximately $154,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GEN has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada upped their target price on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gen Digital currently has a consensus rating of “Buy” and a consensus price target of $27.50.

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.