Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down - Should You Sell?

Key Points

• Formula Systems shares gapped down sharply, opening at $106.14 versus the prior close of $113.99, with only 412 shares traded.
• The company reported quarterly revenue of $738.29 million and earnings of $2.25 per share, alongside a 21.58% net margin and 4.01% return on equity.
• Formula Systems recently paid a $13.045-per-share special dividend; institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $113.99, but opened at $106.14. Formula Systems (1985) shares last traded at $106.14, with a volume of 412 shares traded.

Formula Systems (1985) Stock Performance

The firm's fifty day moving average is $116.96 and its 200 day moving average is $129.86. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.70 and a beta of 1.21. 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 (1985) (NASDAQ:FORTY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%. The firm had revenue of $738.29 million for the quarter.

Formula Systems (1985) Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)'s dividend payout ratio (DPR) is presently 1.88%.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at approximately $73,000. Altshuler Shaham Ltd raised its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock valued at $1,182,000 after acquiring an additional 1,650 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the first quarter valued at approximately $206,000. Finally, Dimensional Fund Advisors LP lifted 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 valued at $391,000 after acquiring an additional 86 shares during the last quarter. 34.76% of the stock is owned by hedge funds and other institutional investors.

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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