Gen Digital (NASDAQ:GEN) Shares Gap Down to $22.34

Gen Digital Inc. (NASDAQ:GEN)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $22.34, but opened at $21.89. Gen Digital shares last traded at $21.64, with a volume of 515,223 shares.

Gen Digital Trading Down 0.3 %

The business has a fifty day moving average of $21.69 and a 200-day moving average of $21.01. The stock has a market capitalization of $13.33 billion, a price-to-earnings ratio of 9.69, a price-to-earnings-growth ratio of 0.88 and a beta of 0.85. 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 (NASDAQ:GEN) last released its earnings results on Thursday, February 1st. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $953.00 million for the quarter, compared to analyst estimates of $955.80 million. Gen Digital had a return on equity of 47.34% and a net margin of 36.84%. On average, equities analysts anticipate that Gen Digital Inc. will post 1.79 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 19th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, February 15th. Gen Digital’s payout ratio is currently 23.15%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its position in shares of Gen Digital by 27.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,297 shares of the company’s stock valued at $618,000 after purchasing an additional 5,026 shares during the period. HighTower Advisors LLC boosted its position in shares of Gen Digital by 2.0% in the 1st quarter. HighTower Advisors LLC now owns 26,755 shares of the company’s stock valued at $708,000 after purchasing an additional 521 shares during the period. Private Advisor Group LLC boosted its position in shares of Gen Digital by 2.9% in the 1st quarter. Private Advisor Group LLC now owns 21,336 shares of the company’s stock valued at $566,000 after purchasing an additional 596 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of 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 valued at $2,065,000 after purchasing an additional 4,833 shares during the period. Finally, Raymond James Trust N.A. boosted its position in shares of Gen Digital by 9.8% in the 1st quarter. Raymond James Trust N.A. now owns 21,022 shares of the company’s stock valued at $557,000 after purchasing an additional 1,876 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

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.