Landscape Capital Management L.L.C. Purchases New Stake in Gen Digital Inc. $GEN

Landscape Capital Management L.L.C. acquired a new position in shares of Gen Digital Inc. (NASDAQ:GEN) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 103,131 shares of the company’s stock, valued at approximately $2,567,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Gen Digital by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 73,310,110 shares of the company’s stock valued at $1,993,302,000 after buying an additional 1,096,313 shares in the last quarter. State Street Corp boosted its position in shares of Gen Digital by 3.4% during the 3rd quarter. State Street Corp now owns 30,558,806 shares of the company’s stock worth $867,565,000 after acquiring an additional 1,015,755 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Gen Digital by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 22,473,917 shares of the company’s stock worth $660,730,000 after acquiring an additional 1,406,869 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Gen Digital by 22.3% during the 4th quarter. First Trust Advisors LP now owns 19,941,546 shares of the company’s stock worth $542,211,000 after acquiring an additional 3,640,451 shares in the last quarter. Finally, Boston Partners increased its stake in Gen Digital by 14.3% in the fourth quarter. Boston Partners now owns 15,644,289 shares of the company’s stock valued at $425,336,000 after acquiring an additional 1,954,712 shares during the last quarter. 81.38% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Travis Michael Witteveen sold 30,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $29.42, for a total transaction of $882,600.00. Following the sale, the insider owned 496,545 shares in the company, valued at $14,608,353.90. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ondrej Vlcek sold 100,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $24.78, for a total value of $2,478,000.00. Following the sale, the director owned 3,832,724 shares in the company, valued at $94,974,900.72. This represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 230,440 shares of company stock worth $6,172,946. Insiders own 9.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GEN. Argus upgraded shares of Gen Digital to a “strong-buy” rating in a research report on Friday, May 22nd. Jefferies Financial Group downgraded Gen Digital from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen lowered Gen Digital from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Wells Fargo & Company boosted their price target on Gen Digital from $22.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Finally, Barclays upped their price objective on Gen Digital from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Gen Digital presently has a consensus rating of “Hold” and a consensus target price of $31.67.

Gen Digital Trading Up 2.7%

Shares of Gen Digital stock opened at $28.93 on Friday. The firm’s 50 day moving average is $26.49 and its 200 day moving average is $23.57. The firm has a market capitalization of $17.32 billion, a PE ratio of 16.82 and a beta of 1.21. Gen Digital Inc. has a 1 year low of $17.78 and a 1 year high of $31.88. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 3.00.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $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 earnings per share for the current fiscal year.

Gen Digital Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, August 17th. This represents a $0.50 annualized dividend and a dividend yield of 1.7%. Gen Digital’s dividend payout ratio is 29.07%.

About Gen Digital

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.