Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Update

Key Points

• Short interest plunged 99.2% to just 2 shares as of March 31, leaving a days-to-cover ratio of 0.0 and effectively 0.0% of the stock sold short.
• Institutions own 34.76% of the company, with recent activity including CX Institutional's new ~$398k stake and Altshuler Shaham boosting its holdings by 30.8% to 7,015 shares.
• Shares fell 2.5% to $121.31; Formula Systems has a $1.86B market cap and a trailing PE of 3.17, reported quarterly EPS of $35.03 on $708.38M revenue, and carries a MarketBeat/Weiss consensus "Hold" rating.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 2 shares, a decline of 99.2% from the March 15th total of 241 shares. Based on an average daily trading volume, of 578 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company's stock are sold short.

Institutional Investors Weigh In On Formula Systems (1985)

A number of large investors have recently bought and sold shares of FORTY. CX Institutional bought a new stake in Formula Systems (1985) during the 3rd quarter worth approximately $398,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock worth $1,182,000 after acquiring an additional 1,650 shares during the last quarter. GHP Investment Advisors Inc. grew its position in Formula Systems (1985) by 10.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company's stock worth $1,082,000 after acquiring an additional 755 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter worth approximately $73,000. 34.76% of the stock is currently owned by institutional investors.

Formula Systems (1985) Stock Down 2.5%

Shares of FORTY traded down $3.14 during trading hours on Friday, hitting $121.31. 220 shares of the company were exchanged, compared to its average volume of 423. The company has a market cap of $1.86 billion, a PE ratio of 3.17 and a beta of 1.10. The firm's 50 day moving average is $126.63 and its 200-day moving average is $147.42. Formula Systems has a 52 week low of $84.52 and a 52 week high of $190.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.61 and a current ratio of 1.63.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The technology company reported $35.03 earnings per share for the quarter. The business had revenue of $708.38 million during the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

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.

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