Morgan Stanley Initiates Coverage on Gen Digital (NASDAQ:GEN)

Morgan Stanley initiated coverage on shares of Gen Digital (NASDAQ:GEN - Free Report) in a research note issued to investors on Tuesday morning. The brokerage issued an equal weight rating on the stock.

Separately, UBS Group raised shares of Gen Digital to a "strong-buy" rating in a research report on Wednesday, December 4th.

Gen Digital Stock Performance

Gen Digital stock traded down $0.38 during midday trading on Tuesday, hitting $27.18. 19,989,552 shares of the company's stock were exchanged, compared to its average volume of 3,703,325. Gen Digital has a 12-month low of $19.58 and a 12-month high of $31.72. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market cap of $16.75 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. The firm's 50 day simple moving average is $27.45 and its 200 day simple moving average is $27.92.

Gen Digital (NASDAQ:GEN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. Equities research analysts predict that Gen Digital will post 2.05 EPS for the current year.

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Institutional Trading of Gen Digital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Gen Digital by 5.4% in the fourth quarter. Brighton Jones LLC now owns 25,212 shares of the company's stock valued at $690,000 after acquiring an additional 1,299 shares in the last quarter. QSM Asset Management Ltd purchased a new stake in shares of Gen Digital in the fourth quarter valued at about $5,373,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Gen Digital in the fourth quarter valued at about $14,367,000. Hedge funds and other institutional investors own 81.38% of the company's stock.

About Gen Digital

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.