Altshuler Shaham Ltd Has $6.58 Million Stake in Magic Software Enterprises Ltd. $MGIC

Altshuler Shaham Ltd grew its stake in Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 187,232.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,899 shares of the software maker’s stock after purchasing an additional 252,764 shares during the period. Altshuler Shaham Ltd’s holdings in Magic Software Enterprises were worth $6,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MGIC. Jane Street Group LLC grew its position in Magic Software Enterprises by 126.5% in the 1st quarter. Jane Street Group LLC now owns 32,028 shares of the software maker’s stock worth $416,000 after purchasing an additional 17,887 shares during the last quarter. Legal & General Group Plc grew its position in Magic Software Enterprises by 34.6% in the 2nd quarter. Legal & General Group Plc now owns 32,220 shares of the software maker’s stock worth $616,000 after purchasing an additional 8,289 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Magic Software Enterprises by 133.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 126,278 shares of the software maker’s stock worth $2,415,000 after purchasing an additional 72,117 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Magic Software Enterprises in the 2nd quarter worth $33,000. Finally, Ameriprise Financial Inc. acquired a new stake in Magic Software Enterprises in the 2nd quarter worth $260,000. 24.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Magic Software Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.00.

Magic Software Enterprises Price Performance

Shares of Magic Software Enterprises stock opened at $17.38 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $20.66. Magic Software Enterprises Ltd. has a twelve month low of $11.65 and a twelve month high of $28.00. The firm has a market cap of $853.36 million, a P/E ratio of 21.46 and a beta of 0.73.

Magic Software Enterprises Profile

Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company’s platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.

The company’s flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.