MQS Management LLC Invests $253,000 in Gen Digital Inc. (NASDAQ:GEN)

MQS Management LLC bought a new position in Gen Digital Inc. (NASDAQ:GEN) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,543 shares of the company’s stock, valued at approximately $253,000.

Other hedge funds also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Gen Digital during the 4th quarter valued at approximately $14,367,000. QSM Asset Management Ltd acquired a new position in Gen Digital during the 4th quarter valued at approximately $5,373,000. Brighton Jones LLC boosted its position in Gen Digital by 5.4% during the 4th quarter. Brighton Jones LLC now owns 25,212 shares of the company’s stock valued at $690,000 after purchasing an additional 1,299 shares during the period. Wellington Management Group LLP boosted its position in Gen Digital by 98.8% during the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock valued at $3,140,000 after purchasing an additional 56,993 shares during the period. Finally, Kera Capital Partners Inc. boosted its position in Gen Digital by 41.7% during the 1st quarter. Kera Capital Partners Inc. now owns 11,777 shares of the company’s stock valued at $313,000 after purchasing an additional 3,466 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Stock Up 0.4%

GEN opened at $29.91 on Wednesday. Gen Digital Inc. has a one year low of $22.74 and a one year high of $31.72. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s fifty day moving average is $29.09 and its 200-day moving average is $27.51. The company has a market capitalization of $18.55 billion, a PE ratio of 28.76, a P/E/G ratio of 1.11 and a beta of 1.01.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities analysts predict that Gen Digital Inc. will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.67%. Gen Digital’s dividend payout ratio is 48.08%.

Insider Buying and Selling at Gen Digital

In other Gen Digital news, Director Nora Denzel sold 31,646 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $28.76, for a total value of $910,138.96. Following the transaction, the director owned 34,860 shares in the company, valued at $1,002,573.60. The trade was a 47.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 12.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEN shares. Royal Bank Of Canada boosted their price objective on Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Gen Digital from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 5th. Morgan Stanley cut their target price on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI began coverage on Gen Digital in a research note on Tuesday, July 1st. They set an “outperform” rating and a $35.00 target price on the stock. Finally, B. Riley began coverage on Gen Digital in a research note on Monday. They set a “buy” rating and a $46.00 target price on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.60.

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.