Short Interest in Gen Digital Inc. (NASDAQ:GEN) Drops By 15.6%

Gen Digital Inc. (NASDAQ:GEN) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 16,890,000 shares, a decrease of 15.6% from the March 15th total of 20,000,000 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 3,960,000 shares, the short-interest ratio is presently 4.3 days.

Institutional Investors Weigh In On Gen Digital

A number of large investors have recently modified their holdings of GEN. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gen Digital in the fourth quarter worth about $14,367,000. GAMMA Investing LLC grew its stake in Gen Digital by 2,954.9% in the first quarter. GAMMA Investing LLC now owns 322,169 shares of the company’s stock worth $8,550,000 after purchasing an additional 311,623 shares during the period. QSM Asset Management Ltd bought a new position in Gen Digital in the fourth quarter worth $5,373,000. QRG Capital Management Inc. lifted its position in Gen Digital by 453.0% during the first quarter. QRG Capital Management Inc. now owns 85,369 shares of the company’s stock valued at $2,266,000 after buying an additional 69,931 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Gen Digital by 6.6% during the 1st quarter. Rhumbline Advisers now owns 1,116,301 shares of the company’s stock valued at $29,627,000 after buying an additional 69,558 shares in the last quarter. Institutional investors own 81.38% of the company’s stock.

Gen Digital Trading Up 0.6 %

NASDAQ GEN opened at $24.45 on Monday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.35 and a current ratio of 0.35. Gen Digital has a fifty-two week low of $19.58 and a fifty-two week high of $31.72. The stock has a market cap of $15.07 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The stock has a 50 day simple moving average of $26.56 and a two-hundred day simple moving average of $27.75.

Gen Digital (NASDAQ:GEN) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Gen Digital had a return on equity of 58.83% and a net margin of 16.32%. On average, analysts forecast that Gen Digital will post 2.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley decreased their price objective on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th.

Gen Digital Company Profile

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.