Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Down 51.0% in July

Key Points

• Short interest fell 51.0% to 72 shares as of July 31, down from 147 shares on July 15. Short interest represented 0.0% of shares outstanding, with a short-interest ratio of 0.1 days.
• Institutional investors and hedge funds own 34.76% of Formula Systems; several firms initiated or increased positions, including Altshuler Shaham, which raised its stake by 10.4%.
• Shares were flat at $109.25, near the lower end of their 52-week range of $102.01 to $190.56. In its latest quarter, the company reported $2.25 in EPS and $738.29 million in revenue.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 72 shares, a decline of 51.0% from the July 15th total of 147 shares. Based on an average daily trading volume, of 627 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Formula Systems (1985)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the first quarter worth about $206,000. Dimensional Fund Advisors LP grew its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company's stock valued at $391,000 after acquiring an additional 86 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its stake in Formula Systems (1985) by 10.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Price Performance

Shares of Formula Systems (1985) stock remained flat at $109.25 during mid-day trading on Friday. The company's stock had a trading volume of 32 shares, compared to its average volume of 539. The stock has a market capitalization of $1.67 billion, a PE ratio of 2.78 and a beta of 1.20. The company has a fifty day moving average price of $110.38 and a 200-day moving average price of $124.97. Formula Systems has a fifty-two week low of $102.01 and a fifty-two week high of $190.56. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12.

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

About Formula Systems (1985)

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.

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