Short Interest in Gen Digital Inc. (NASDAQ:GEN) Drops By 6.9%

Gen Digital Inc. (NASDAQ:GEN) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 11,820,000 shares, a decrease of 6.9% from the October 15th total of 12,700,000 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 3,480,000 shares, the days-to-cover ratio is presently 3.4 days.

Hedge Funds Weigh In On Gen Digital

A number of large investors have recently made changes to their positions in GEN. Virtu Financial LLC bought a new stake in shares of Gen Digital in the 1st quarter valued at approximately $510,000. United Services Automobile Association bought a new stake in shares of Gen Digital in the 2nd quarter valued at approximately $468,000. Eqis Capital Management Inc. grew its stake in shares of Gen Digital by 2.8% in the 1st quarter. Eqis Capital Management Inc. now owns 16,826 shares of the company’s stock valued at $446,000 after buying an additional 459 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Gen Digital by 6.7% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,218 shares of the company’s stock valued at $427,000 after buying an additional 1,339 shares in the last quarter. Finally, Pathstone Family Office LLC grew its stake in shares of Gen Digital by 50.0% in the 3rd quarter. Pathstone Family Office LLC now owns 19,424 shares of the company’s stock valued at $391,000 after buying an additional 6,476 shares in the last quarter. Institutional investors and hedge funds own 81.70% of the company’s stock.

Gen Digital Price Performance

Gen Digital stock traded up $0.26 during midday trading on Friday, hitting $20.66. The company’s stock had a trading volume of 5,784,955 shares, compared to its average volume of 3,997,141. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 3.87. The stock’s 50-day moving average price is $18.06 and its 200-day moving average price is $18.45. Gen Digital has a 12 month low of $15.45 and a 12 month high of $23.92. The company has a market capitalization of $13.24 billion, a PE ratio of 9.32 and a beta of 0.84.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.50 annualized dividend and a yield of 2.42%. Gen Digital’s payout ratio is presently 22.83%.

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.