Gabelli Funds LLC Buys 103,561 Shares of Gen Digital Inc. $GEN

Gabelli Funds LLC grew its stake in Gen Digital Inc. (NASDAQ:GEN) by 885.1% during the second quarter, HoldingsChannel reports. The firm owned 115,261 shares of the company’s stock after buying an additional 103,561 shares during the quarter. Gabelli Funds LLC’s holdings in Gen Digital were worth $3,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Gamco Investors INC. ET AL lifted its stake in Gen Digital by 29.2% in the 2nd quarter. Gamco Investors INC. ET AL now owns 113,528 shares of the company’s stock valued at $3,338,000 after purchasing an additional 25,638 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Gen Digital during the second quarter worth $800,000. Gateway Wealth Partners LLC acquired a new position in shares of Gen Digital during the second quarter worth $218,000. Amundi increased its holdings in shares of Gen Digital by 273.3% during the second quarter. Amundi now owns 4,303,552 shares of the company’s stock worth $128,289,000 after buying an additional 3,150,651 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Gen Digital by 7.4% in the 2nd quarter. First Trust Advisors LP now owns 15,899,158 shares of the company’s stock valued at $467,436,000 after acquiring an additional 1,088,983 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada reduced their price objective on Gen Digital from $33.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Wall Street Zen raised Gen Digital from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gen Digital in a research note on Wednesday, October 8th. Morgan Stanley raised their price objective on shares of Gen Digital from $25.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. Finally, Evercore ISI boosted their target price on shares of Gen Digital from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.43.

Insiders Place Their Bets

In other Gen Digital news, Director John C. Chrystal purchased 5,000 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $27.14 per share, with a total value of $135,700.00. Following the completion of the purchase, the director owned 28,419 shares in the company, valued at $771,291.66. This represents a 21.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.30% of the company’s stock.

Gen Digital Price Performance

Shares of NASDAQ GEN opened at $27.53 on Thursday. The company has a market capitalization of $16.98 billion, a PE ratio of 29.92, a P/E/G ratio of 0.90 and a beta of 1.11. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.43. Gen Digital Inc. has a twelve month low of $22.74 and a twelve month high of $32.22. The firm has a fifty day simple moving average of $26.69 and a 200 day simple moving average of $28.62.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Gen Digital had a return on equity of 57.09% and a net margin of 12.74%.The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $0.54 EPS. The business’s revenue was up 25.3% compared to the same quarter last year. Gen Digital has set its FY 2026 guidance at 2.510-2.56 EPS and its Q3 2026 guidance at 0.620-0.64 EPS. On average, sell-side analysts forecast that Gen Digital Inc. will post 2.05 EPS for the current year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 17th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.50 annualized dividend and a yield of 1.8%. Gen Digital’s dividend payout ratio (DPR) is currently 54.35%.

Gen Digital Company Profile

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.