Paradigm Capital Management Inc. NY Buys Shares of 36,000 Gen Digital Inc. $GEN

Paradigm Capital Management Inc. NY purchased a new position in Gen Digital Inc. (NASDAQ:GEN) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 36,000 shares of the company’s stock, valued at approximately $896,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEN. Goldman Sachs Group Inc. lifted its holdings in shares of Gen Digital by 1.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,703,712 shares of the company’s stock valued at $71,757,000 after buying an additional 28,522 shares during the period. Great Lakes Advisors LLC bought a new stake in Gen Digital during the first quarter worth approximately $205,000. Woodline Partners LP grew its position in Gen Digital by 37.8% in the first quarter. Woodline Partners LP now owns 27,590 shares of the company’s stock worth $732,000 after buying an additional 7,562 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Gen Digital by 9.7% during the 1st quarter. Focus Partners Wealth now owns 22,347 shares of the company’s stock valued at $593,000 after acquiring an additional 1,980 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Gen Digital by 221.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,717 shares of the company’s stock worth $46,000 after acquiring an additional 1,183 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Gen Digital Stock Performance

Shares of GEN opened at $29.11 on Tuesday. The company has a market capitalization of $17.42 billion, a PE ratio of 16.92 and a beta of 1.21. The company’s fifty day moving average price is $26.59 and its 200 day moving average price is $23.62. The company has a debt-to-equity ratio of 3.00, a current ratio of 0.47 and a quick ratio of 0.47. Gen Digital Inc. has a one year low of $17.78 and a one year high of $31.57.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Gen Digital had a return on equity of 55.93% and a net margin of 20.73%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. 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. As a group, analysts expect that Gen Digital Inc. will post 2.64 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, August 17th. Gen Digital’s dividend payout ratio is 29.07%.

Insiders Place Their Bets

In other news, insider Travis Michael Witteveen sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $29.42, for a total value of $882,600.00. Following the sale, the insider owned 496,545 shares in the company, valued at approximately $14,608,353.90. The trade was a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Chrystal bought 3,000 shares of Gen Digital stock in a transaction dated 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 acquisition, the director directly owned 31,419 shares in the company, valued at $850,198.14. This represents a 10.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 230,440 shares of company stock worth $6,172,946 over the last three months. 9.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Barclays increased their price target on Gen Digital from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Gen Digital from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Royal Bank Of Canada boosted their target price on shares of Gen Digital from $27.00 to $30.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Argus raised Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, Wall Street Zen downgraded Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One 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 stock. Based on data from MarketBeat, Gen Digital presently has an average rating of “Hold” and a consensus price target 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.