Gen Digital Inc. (NASDAQ:GEN) Short Interest Up 9.5% in March

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

Institutional Trading of Gen Digital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Gen Digital by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 65,314,797 shares of the company’s stock worth $1,732,147,000 after buying an additional 1,344,188 shares during the period. First Trust Advisors LP grew its position in Gen Digital by 1,047.3% during the 1st quarter. First Trust Advisors LP now owns 8,181,798 shares of the company’s stock valued at $216,981,000 after purchasing an additional 7,468,669 shares during the last quarter. Northern Trust Corp grew its position in Gen Digital by 6.9% during the 1st quarter. Northern Trust Corp now owns 7,279,703 shares of the company’s stock valued at $193,058,000 after purchasing an additional 469,777 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Gen Digital by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,960,832 shares of the company’s stock valued at $78,522,000 after purchasing an additional 80,779 shares during the last quarter. Finally, National Pension Service grew its position in Gen Digital by 2.1% during the 2nd quarter. National Pension Service now owns 1,099,587 shares of the company’s stock valued at $24,147,000 after purchasing an additional 22,430 shares during the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Gen Digital Trading Up 1.2 %

NASDAQ:GEN traded up $0.25 during midday trading on Wednesday, reaching $20.69. 243,346 shares of the stock traded hands, compared to its average volume of 4,190,572. The company has a fifty day moving average of $21.67 and a 200 day moving average of $21.09. Gen Digital has a 12 month low of $15.45 and a 12 month high of $24.37. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $13.18 billion, a P/E ratio of 9.46, a PEG ratio of 0.86 and a beta of 0.85.

Gen Digital (NASDAQ:GEN) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. Gen Digital had a net margin of 36.84% and a return on equity of 47.34%. The business had revenue of $953.00 million during the quarter, compared to analyst estimates of $955.80 million. On average, research analysts predict that Gen Digital will post 1.79 EPS for the current year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 19th were issued a $0.125 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.50 annualized dividend and a yield of 2.42%. Gen Digital’s dividend payout ratio (DPR) 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.