Fidelity Management & Research Co has recently announced that it has increased stake in Gen Digital Inc (NASDAQ:GEN) by 12.41%. After grabbing 22.86 million shares, the institutional investor is now in possession of 2.52 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.58% having worth around $380.9 million. Moreover, Boston Partners Global Investors, increased its share by 3.35 million to have a control over 15.47 million shares. And Beutel, Goodman & Co. Ltd. raised its holdings to 625.0 shares by acquiring 13.17 million shares or 2.06% of the stake.
Gen Digital Inc (GEN) concluded trading on 12/14/23 at a closing price of $22.95, with 4.12 million shares of worth about $94.64 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 21.75% during that period and on Thursday the price saw a gain of about 1.91%. Currently the company’s common shares owned by public are about 640.00M shares, out of which, 582.52M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 35 times over the past 12 months. They bought 1,290,943 shares in 20 of the transactions. In 15 selling transactions, insiders dumped 1,103,746 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Gen Digital Inc Vanguard Total Stock Market ETF is currently holding 16.98 million shares of worth totaling $282.89 million. The company recently came buying 27546.0 shares which brought its stake up to 2.66% of the company’s outstanding shares. Vanguard 500 Index Fund bought 59783.0 shares, after which its hold over company’s outstanding shares expand to 2.12%, leaving 13.58 million shares with the mutual fund that have a worth of about $226.3 million. Vanguard Mid Cap Index Fund, after buying 12.35 million shares, have now control over 1.93% of the stake in the company. It holds 41669.0 shares of worth $205.81 million.
Stock saw a price change of 3.05% in past 5 days and over the past one month there was a price change of 16.85%. Year-to-date (YTD), GEN shares are showing a performance of 7.09% which decreased to -0.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.45 but also hit the highest price of $23.74 during that period. The average intraday trading volume for Gen Digital Inc shares is 4.11 million. The stock is currently trading 6.16% above its 20-day simple moving average (SMA20), while that difference is up 19.63% for SMA50 and it goes to 23.91% higher than SMA200.
Fidelity Management & Research Co acquired 22.86 million shares of Gen Digital Inc having value of about $380.9 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 2.52 million shares in the company valued at close to $57934475.1, or have control over 12.41% stake in the company. Gen Digital Inc (NASDAQ: GEN) currently have 640.00M outstanding shares and institutions hold larger chunk of about 83.30% of that. Holding of mutual funds in the company is about 32.10% while other institutional holders and individual stake holders have control over 52.35% and 12.06% of the stake respectively.
The stock has a current market capitalization of $14.70B and its 3Y-monthly beta is at 0.86. PE ratio of stock for trailing 12 months is 10.43, while it has posted earnings per share of $2.20 in the same period. Its PEG reads 0.83 and has Quick Ratio of 0.44 while making debt-to-equity ratio of 3.96. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GEN, volatility over the week remained 1.86% while standing at 2.09% over the month.
Analysts are in expectations that Gen Digital Inc (GEN) stock would likely to be making an EPS of $0.5 in the current quarter, while forecast for next quarter EPS is $0.53 and it is $2.27 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.49 which is $0.51 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 9.06% while it is estimated to increase by 14.19% in next year. EPS is likely to grow at an annualized rate of 12.55% for next 5-years, compared to annual growth of 4.88% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on November 21, 2023 offering an Overweight rating for the stock and assigned a target price range of between $23 and $26 to it.
