Short Interest in Gen Digital Inc. (NASDAQ:GEN) Rises By 8.2%

Gen Digital Inc. (NASDAQ:GENGet Free Report) was the target of 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 short-interest ratio is presently 3.5 days. Currently, 2.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Gen Digital

Several hedge funds have recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC lifted its stake in Gen Digital by 0.3% in the first quarter. Wealthfront Advisers LLC now owns 140,080 shares of the company’s stock valued at $3,715,000 after buying an additional 428 shares during the period. Eqis Capital Management Inc. raised its position in shares of 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 during the period. HighTower Advisors LLC raised 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 purchasing an additional 521 shares during the period. Private Advisor Group LLC raised its position in shares of Gen Digital by 2.9% during the first quarter. Private Advisor Group LLC now owns 21,336 shares of the company’s stock worth $566,000 after purchasing an additional 596 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Gen Digital by 0.6% during the second quarter. Utah Retirement Systems now owns 98,644 shares of the company’s stock worth $2,166,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Gen Digital Trading Down 0.1 %

Gen Digital stock traded down $0.02 during mid-day trading on Wednesday, hitting $22.04. The stock had a trading volume of 263,815 shares, compared to its average volume of 4,326,044. The stock has a 50-day simple moving average of $21.94 and a two-hundred day simple moving average of $20.87. The stock has a market capitalization of $14.04 billion, a PE ratio of 10.21, a P/E/G ratio of 0.93 and a beta of 0.85. Gen Digital has a 12 month low of $15.45 and a 12 month high of $24.37. 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 (NASDAQ:GENGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. Gen Digital had a return on equity of 47.34% and a net margin of 36.84%. The business had revenue of $953.00 million for the quarter, compared to analysts’ expectations of $955.80 million. As a group, sell-side analysts forecast that Gen Digital will post 1.79 EPS for the current year.

Gen Digital Announces Dividend

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

About Gen Digital

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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.

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