Short Interest in Gen Digital Inc. (NASDAQ:GEN) Increases By 9.5%

Gen Digital Inc. (NASDAQ:GEN) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 16,420,000 shares, a growth of 9.5% from the March 15th total of 14,990,000 shares. Based on an average daily volume of 4,330,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.8% of the company’s stock are sold short.

Institutional Trading of Gen Digital

Institutional investors have recently added to or reduced their stakes in the stock. Industrial Alliance Investment Management Inc. acquired a new stake in Gen Digital in the third quarter valued at $179,000. Quantbot Technologies LP acquired a new stake in shares of Gen Digital during the second quarter worth $189,000. Brinker Capital Investments LLC acquired a new stake in shares of Gen Digital during the first quarter worth $228,000. Lazard Asset Management LLC raised its holdings in shares of Gen Digital by 676.8% during the first quarter. Lazard Asset Management LLC now owns 9,236 shares of the company’s stock worth $244,000 after purchasing an additional 8,047 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Gen Digital by 15.4% during the first quarter. Blair William & Co. IL now owns 12,958 shares of the company’s stock worth $344,000 after purchasing an additional 1,727 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Stock Up 0.1 %

Shares of GEN stock traded up $0.02 on Wednesday, hitting $20.46. The stock had a trading volume of 1,023,270 shares, compared to its average volume of 4,201,026. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 0.86 and a beta of 0.85. The stock’s 50 day moving average is $21.67 and its 200-day moving average is $21.09. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.67 and a current ratio of 0.67. Gen Digital has a 52-week low of $15.45 and a 52-week high of $24.37.

Gen Digital (NASDAQ:GEN) last announced its 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 the consensus estimate of $955.80 million. Gen Digital had a net margin of 36.84% and a return on equity of 47.34%. As a group, research analysts expect that Gen Digital will post 1.79 earnings per share for the current year.

Gen Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 19th were issued a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.50 annualized dividend and a yield of 2.44%. Gen Digital’s dividend payout ratio is presently 23.15%.

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.