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

Gen Digital Inc. (NASDAQ:GEN) saw a significant increase in short interest during the month of 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. Based on an average trading volume of 4,270,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.6% of the shares of the company are sold short.

Gen Digital Price Performance

NASDAQ GEN opened at $22.06 on Thursday. The company has a 50-day moving average price of $21.91 and a 200-day moving average price of $20.88. Gen Digital has a 52 week low of $15.45 and a 52 week high of $24.37. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 3.76. The firm has a market capitalization of $14.05 billion, a P/E ratio of 10.21, a PEG ratio of 0.93 and a beta of 0.85.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, February 1st. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates 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%. Equities research analysts anticipate that Gen Digital will post 1.79 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 19th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.50 annualized dividend and a yield of 2.27%. Gen Digital’s dividend payout ratio (DPR) is presently 23.15%.

Institutional Trading of Gen Digital

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Gen Digital by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 65,314,797 shares of the company’s stock valued at $1,732,147,000 after purchasing an additional 1,344,188 shares during the period. First Trust Advisors LP raised its holdings in Gen Digital by 1,047.3% during the first quarter. First Trust Advisors LP now owns 8,181,798 shares of the company’s stock valued at $216,981,000 after acquiring an additional 7,468,669 shares during the period. Northern Trust Corp lifted its position in shares of Gen Digital by 6.9% in the first quarter. Northern Trust Corp now owns 7,279,703 shares of the company’s stock valued at $193,058,000 after acquiring an additional 469,777 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Gen Digital by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,960,832 shares of the company’s stock worth $78,522,000 after acquiring an additional 80,779 shares during the period. Finally, National Pension Service grew its position in shares of Gen Digital by 2.1% during the second quarter. National Pension Service now owns 1,099,587 shares of the company’s stock worth $24,147,000 after purchasing an additional 22,430 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

About Gen Digital

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.