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

Gen Digital Inc. (NASDAQ:GEN - Get Free Report) saw a large growth in short interest in 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. Approximately 2.8% of the company's stock are short sold. Based on an average daily volume of 4,330,000 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Investors Weigh In On Gen Digital

Several institutional investors and hedge funds have recently added to or reduced their stakes in GEN. Raymond James Financial Services Advisors Inc. grew its position in shares of Gen Digital by 27.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,297 shares of the company's stock valued at $618,000 after acquiring an additional 5,026 shares during the period. HighTower Advisors LLC boosted its holdings in Gen Digital by 2.0% in the 1st 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 boosted its holdings in Gen Digital by 2.9% in the 1st quarter. Private Advisor Group LLC now owns 21,336 shares of the company's stock worth $566,000 after buying an additional 596 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Gen Digital by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,854 shares of the company's stock worth $2,065,000 after buying an additional 4,833 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in Gen Digital by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 21,022 shares of the company's stock worth $557,000 after buying an additional 1,876 shares during the period. Hedge funds and other institutional investors own 81.38% of the company's stock.

Gen Digital Stock Down 1.6 %

Shares of GEN stock traded down $0.33 on Monday, reaching $20.60. 3,389,934 shares of the company were exchanged, compared to its average volume of 4,269,292. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.88 and a beta of 0.85. The company has a 50-day moving average of $21.69 and a 200-day moving average of $21.05. The company has a debt-to-equity ratio of 3.76, a current ratio of 0.67 and a quick ratio of 0.67. Gen Digital has a one year low of $15.45 and a one year high of $24.37.

Gen Digital (NASDAQ:GEN - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.45 earnings per share for the quarter, hitting analysts' consensus estimates of $0.45. Gen Digital had a net margin of 36.84% and a return on equity of 47.34%. The company had revenue of $953.00 million for the quarter, compared to analyst estimates of $955.80 million. Analysts anticipate that Gen Digital will post 1.79 earnings per share for the current year.

Gen Digital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 19th were paid a $0.125 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.50 annualized dividend and a yield of 2.43%. Gen Digital's dividend payout ratio (DPR) is 23.15%.

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.