Gen Digital Inc. (NASDAQ:GEN) Short Interest Down 7.6% in May

Gen Digital Inc. (NASDAQ:GEN) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 18,440,000 shares, a drop of 7.6% from the May 15th total of 19,950,000 shares. Based on an average trading volume of 4,710,000 shares, the short-interest ratio is currently 3.9 days. Approximately 3.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Argus upgraded shares of Gen Digital to a “strong-buy” rating in a report on Tuesday, May 28th.

Gen Digital Stock Performance

Shares of NASDAQ GEN traded down $0.13 during trading on Wednesday, hitting $23.56. The company had a trading volume of 5,432,555 shares, compared to its average volume of 5,526,543. The stock has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $22.49. The firm has a market capitalization of $14.75 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.83. The company has a debt-to-equity ratio of 3.84, a quick ratio of 0.51 and a current ratio of 0.51. Gen Digital has a 12 month low of $16.38 and a 12 month high of $25.61.

Gen Digital (NASDAQ:GEN) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $967.00 million during the quarter, compared to analyst estimates of $964.81 million. Gen Digital had a net margin of 16.16% and a return on equity of 49.04%. As a group, analysts anticipate that Gen Digital will post 2.1 earnings per share for the current year.

Gen Digital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Monday, May 20th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, May 17th. Gen Digital’s dividend payout ratio is currently 52.63%.

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.