Kendall Capital Management Takes $4.92 Million Position in Gen Digital Inc. $GEN

Kendall Capital Management acquired a new stake in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, HoldingsChannel reports. The fund acquired 197,625 shares of the company’s stock, valued at approximately $4,919,000.

A number of other hedge funds also recently bought and sold shares of GEN. International Assets Investment Management LLC purchased a new stake in Gen Digital in the fourth quarter worth approximately $27,000. Grove Bank & Trust raised its stake in shares of Gen Digital by 452.2% during the second quarter. Grove Bank & Trust now owns 1,132 shares of the company’s stock worth $28,000 after acquiring an additional 927 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of Gen Digital during the second quarter worth approximately $32,000. Weiss Asset Management LP bought a new stake in shares of Gen Digital in the 1st quarter worth approximately $41,000. Finally, TD Private Client Wealth LLC boosted its stake in shares of Gen Digital by 65.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,539 shares of the company’s stock valued at $42,000 after purchasing an additional 611 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Gen Digital Stock Up 2.7%

Shares of Gen Digital stock opened at $28.93 on Friday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 0.47 and a current ratio of 0.47. Gen Digital Inc. has a 52-week low of $17.78 and a 52-week high of $31.88. The company’s 50 day moving average price is $26.49 and its 200-day moving average price is $23.57. The stock has a market capitalization of $17.32 billion, a price-to-earnings ratio of 16.82 and a beta of 1.21.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Gen Digital had a net margin of 20.73% and a return on equity of 55.93%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Gen Digital has set its FY 2027 guidance at 2.870-2.970 EPS and its Q2 2027 guidance at 0.710-0.730 EPS. Equities research analysts forecast that Gen Digital Inc. will post 2.64 EPS for the current year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, August 17th. Gen Digital’s dividend payout ratio is currently 29.07%.

Insider Transactions at Gen Digital

In related news, insider Travis Michael Witteveen sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider directly owned 496,545 shares of the company’s stock, valued at $14,608,353.90. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Chrystal bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $27.06 per share, for a total transaction of $81,180.00. Following the completion of the purchase, the director directly owned 31,419 shares of the company’s stock, valued at $850,198.14. The trade was a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 230,440 shares of company stock worth $6,172,946. Company insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GEN shares. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Wells Fargo & Company boosted their price target on shares of Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. Jefferies Financial Group lowered shares of Gen Digital from a “strong-buy” rating to a “hold” rating in a research report 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. Finally, Argus upgraded Gen Digital to a “strong-buy” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.67.

Gen Digital 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.