Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Down 77.3% in January

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 10 shares, a drop of 77.3% from the January 15th total of 44 shares. Based on an average trading volume of 293 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 293 shares, the days-to-cover ratio is currently 0.0 days.

Formula Systems (1985) Stock Up 4.3%

FORTY stock traded up $5.75 during midday trading on Tuesday, hitting $138.13. The company’s stock had a trading volume of 603 shares, compared to its average volume of 294. The firm’s 50-day moving average is $168.07 and its 200-day moving average is $148.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60. Formula Systems has a 12 month low of $82.52 and a 12 month high of $190.56.

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

Formula Systems (1985) Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th were issued a $0.5021 dividend. This represents a $2.01 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, December 30th. Formula Systems (1985)’s payout ratio is 32.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. grew its position in shares of Formula Systems (1985) by 10.8% during the 3rd 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 in the last quarter. CX Institutional bought a new position in Formula Systems (1985) in the third quarter worth approximately $398,000. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the second quarter worth $222,000. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter valued at $73,000. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Formula Systems (1985) Company Profile

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.