Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Decline in Short Interest

Key Points

• Short interest fell sharply by 74.2% to 60 shares as of September 30, representing 0.0% of outstanding shares and a 0.0-day short-interest ratio.
• Institutional investors own 34.76% of Formula Systems; Altshuler Shaham increased its stake by 30.8%, while Dimensional Fund Advisors raised its holdings by 2.7%.
• The stock carries an average “Hold” rating, opened at $118.14, and the company declared a special dividend of $1.63 per share payable October 16 to eligible shareholders.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 60 shares, a decline of 74.2% from the September 15th total of 233 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 1,655 shares, the short-interest ratio is currently 0.0 days.

Institutional Investors Weigh In On Formula Systems (1985)

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company's stock valued at $1,182,000 after purchasing an additional 1,650 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $391,000 after purchasing an additional 86 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) during the first quarter valued at about $206,000. Institutional investors own 34.76% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Formula Systems (1985) has an average rating of "Hold".

Formula Systems (1985) Price Performance

Formula Systems (1985) stock opened at $118.14 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.81 billion, a P/E ratio of 2.97 and a beta of 1.25. The business has a fifty day moving average of $117.41 and a two-hundred day moving average of $121.30. Formula Systems has a twelve month low of $102.01 and a twelve month high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 22nd. Formula Systems (1985)'s dividend payout ratio is 4.87%.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that operates through a group of technology and information-services businesses. Rather than developing a single product line, Formula Systems invests in and manages companies that provide software, consulting, systems integration, information technology services and other enterprise technology solutions.

Its principal subsidiaries include Matrix IT, a provider of information technology services, consulting, outsourcing, systems integration and training; Sapiens International, which develops software platforms and solutions for the insurance industry; and Magic Software Enterprises, which provides application development, digital transformation, integration, cloud and information technology services.

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