Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Increases By 89.5%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 36 shares, a growth of 89.5% from the April 30th total of 19 shares. Based on an average daily volume of 417 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Formula Systems (1985) Stock Performance

Shares of Formula Systems (1985) stock opened at $133.00 on Tuesday. The business’s fifty day simple moving average is $132.53 and its 200 day simple moving average is $145.89. The firm has a market capitalization of $2.04 billion, a P/E ratio of 3.38 and a beta of 1.17. Formula Systems has a 12 month low of $101.21 and a 12 month high of $190.56. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.The business had revenue of $738.29 million for the quarter.

Formula Systems (1985) Announces Dividend

The company also recently announced a special dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be given a $13.045 dividend. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 27.55%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) presently has an average rating of “Hold”.

Institutional Trading of Formula Systems (1985)

A number of large investors have recently bought and sold shares of FORTY. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) in the second quarter worth $73,000. Altshuler Shaham Ltd increased its position in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) in the first quarter worth $206,000. Finally, Dimensional Fund Advisors LP increased its position in Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after buying an additional 86 shares during the last quarter. 34.76% of the stock is owned by hedge funds and other institutional investors.

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.