Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Significant Increase in Short Interest

Key Points

• Formula Systems (1985) Ltd. experienced a significant increase in short interest, rising by 300.0% to a total of 400 shares as of September 15th.
• The company recently announced a quarterly dividend of $0.505 per share, with an annualized dividend yield of 1.5%, payable on November 7th.
• Wall Street Zen downgraded Formula Systems from a "strong-buy" to a "buy" rating on June 21st.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 400 shares, an increase of 300.0% from the August 31st total of 100 shares. Based on an average daily volume of 500 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 500 shares, the short-interest ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Formula Systems (1985) from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st.

Formula Systems (1985) Price Performance

Shares of FORTY traded down $3.62 during trading hours on Thursday, hitting $136.65. 227 shares of the company were exchanged, compared to its average volume of 479. The firm's fifty day moving average is $128.29 and its 200 day moving average is $111.95. Formula Systems has a fifty-two week low of $74.22 and a fifty-two week high of $149.09. The company has a quick ratio of 1.17, a current ratio of 1.21 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 27.49 and a beta of 0.90.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The technology company reported $0.95 earnings per share for the quarter. Formula Systems (1985) had a net margin of 2.70% and a return on equity of 5.58%. The company had revenue of $743.37 million for the quarter.

Formula Systems (1985) Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, October 14th. Formula Systems (1985)'s dividend payout ratio (DPR) is 26.76%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Formula Systems (1985) stock. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) Ltd. (NASDAQ:FORTY - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,740 shares of the technology company's stock, valued at approximately $222,000. 34.76% of the stock is owned by institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.

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