Trade Report: The Dynamic Technology Lab Private Ltd Acquires Shares of 39,673 Genworth Financial Inc. (GNW)

The Dynamic Technology Lab Private Ltd Acquires Shares of 39,673 Genworth Financial Inc. (GNW)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Genworth Financial Inc. (NYSE:GNW) during the second quarter, Holdings Channel reports. The firm bought 39,673 shares of the company’s stock, valued at approximately $102,000.

Other large investors have also made changes to their positions in the company. Solus Alternative Asset Management LP raised its stake in shares of Genworth Financial by 57.6% in the first quarter. Solus Alternative Asset Management LP now owns 15,000,000 shares of the company’s stock valued at $40,950,000 after buying an additional 5,483,200 shares during the period. Natixis raised its stake in shares of Genworth Financial by 29.7% in the first quarter. Natixis now owns 340,040 shares of the company’s stock valued at $928,000 after buying an additional 77,859 shares during the period. Springbok Capital Management LLC purchased a new stake in shares of Genworth Financial during the first quarter valued at $120,000. Renaissance Technologies LLC purchased a new stake in shares of Genworth Financial during the first quarter valued at $2,353,000. Finally, Adirondack Research & Management Inc. raised its stake in shares of Genworth Financial by 12.5% in the first quarter. Adirondack Research & Management Inc. now owns 861,032 shares of the company’s stock valued at $2,351,000 after buying an additional 95,500 shares during the period. 71.74% of the stock is owned by hedge funds and other institutional investors.

Genworth Financial Inc. (NYSE:GNW) opened at 5.10 on Friday. The firm’s 50-day moving average price is $4.79 and its 200-day moving average price is $3.55. The stock’s market cap is $2.54 billion. Genworth Financial Inc. has a 12-month low of $1.57 and a 12-month high of $5.54.

Genworth Financial (NYSE:GNW) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.09 billion. Genworth Financial had a positive return on equity of 1.32% and a negative net margin of 4.24%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, equities analysts predict that Genworth Financial Inc. will post $0.88 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. BTIG Research lowered Genworth Financial from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $5.75 to $1.57 in a report on Wednesday. Zacks Investment Research raised Genworth Financial from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Monday, October 3rd. Goldman Sachs Group Inc. lifted their price objective on Genworth Financial from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Friday, September 23rd. Wells Fargo & Co. assumed coverage on Genworth Financial in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Finally, Compass Point lowered Genworth Financial from a “buy” rating to a “neutral” rating in a report on Monday, September 19th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.80.

About Genworth Financial

Genworth Financial, Inc (Genworth) is a financial security company. The Company provides insurance, wealth management, investment and financial solutions. As of December 31, 2011, the Company had more than 15 million customers, with a presence in more than 25 countries. The Company operates in Insurance, Mortgage Insurance and Corporate and Runoff.

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