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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a large growth in short interest in the month of 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. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 417 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Formula Systems (1985)

Several hedge funds and other institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd raised its stake in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) in the first quarter worth about $206,000. Finally, Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the second quarter worth about $73,000. 34.76% of the stock is owned by institutional investors.

Formula Systems (1985) Price Performance

Shares of Formula Systems (1985) stock opened at $138.25 on Thursday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 3.52 and a beta of 1.17. The business’s 50 day simple moving average is $132.81 and its two-hundred day simple moving average is $145.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. Formula Systems has a one year low of $101.21 and a one year high of $190.56.

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

Formula Systems (1985) Announces Dividend

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

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.