Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Growth in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 110 shares, a growth of 340.0% from the November 30th total of 25 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 309 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 309 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company’s shares are sold short.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock traded down $8.75 during trading on Friday, reaching $169.36. The company had a trading volume of 135 shares, compared to its average volume of 288. The firm’s 50-day simple moving average is $158.89 and its 200 day simple moving average is $138.57. Formula Systems has a 52 week low of $80.15 and a 52 week high of $190.56. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 37.30 and a beta of 1.07.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.The firm had revenue of $696.64 million for the quarter.

Formula Systems (1985) Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Tuesday, December 30th will be issued a $0.5021 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. Formula Systems (1985)’s payout ratio is presently 32.60%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Formula Systems (1985)

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the 2nd quarter valued at about $222,000. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter valued at approximately $73,000. CX Institutional purchased a new position in shares of Formula Systems (1985) in the third quarter worth $398,000. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares during the period. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.