Gen Digital Inc. (NASDAQ:GEN) Short Interest Up 8.2% in March

Gen Digital Inc. (NASDAQ:GEN) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 14,990,000 shares, an increase of 8.2% from the February 29th total of 13,850,000 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 4,270,000 shares, the days-to-cover ratio is presently 3.5 days.

Gen Digital Stock Performance

Shares of GEN stock opened at $22.06 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 3.76. Gen Digital has a twelve month low of $15.45 and a twelve month high of $24.37. The company’s 50-day moving average price is $21.91 and its 200-day moving average price is $20.88. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 0.93 and a beta of 0.85.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $955.80 million. Gen Digital had a net margin of 36.84% and a return on equity of 47.34%. As a group, equities analysts predict that Gen Digital will post 1.79 earnings per share for the current year.

Gen Digital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 19th were given a $0.125 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.50 dividend on an annualized basis and a yield of 2.27%. Gen Digital’s dividend payout ratio is currently 23.15%.

Hedge Funds Weigh In On Gen Digital

Hedge funds have recently modified their holdings of the business. Wealthfront Advisers LLC boosted its position in shares of Gen Digital by 0.3% during the 1st quarter. Wealthfront Advisers LLC now owns 140,080 shares of the company’s stock worth $3,715,000 after purchasing an additional 428 shares during the period. Eqis Capital Management Inc. lifted its stake in Gen Digital by 2.8% during the first quarter. Eqis Capital Management Inc. now owns 16,826 shares of the company’s stock worth $446,000 after purchasing an additional 459 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Gen Digital by 2.0% during the first quarter. HighTower Advisors LLC now owns 26,755 shares of the company’s stock worth $708,000 after buying an additional 521 shares during the period. Private Advisor Group LLC grew its stake in shares of Gen Digital by 2.9% in the first quarter. Private Advisor Group LLC now owns 21,336 shares of the company’s stock valued at $566,000 after buying an additional 596 shares in the last quarter. Finally, Utah Retirement Systems raised its holdings in shares of Gen Digital by 0.6% in the 2nd quarter. Utah Retirement Systems now owns 98,644 shares of the company’s stock valued at $2,166,000 after buying an additional 600 shares during the period. 81.38% of the stock is currently owned by hedge funds and other institutional investors.

Gen Digital Company Profile

Gen Digital Inc provides cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It offers security and performance products comprising that provide real-time protection for PCs, Macs and mobile devices against malware, viruses, adware, and other online threats; and Norton and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.