Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Rises By 69.4%

Key Points

• Short interest rose 69.4% to 122 shares as of August 14, but short positions still represented approximately 0.0% of outstanding shares, with a 0.3-day days-to-cover ratio.
• Institutional investors own 34.76% of Formula Systems, with several funds increasing holdings or initiating new positions during the first and second quarters.
• The company reported quarterly revenue of $782.44 million and EPS of $1.47, and announced a $1.63-per-share special dividend payable October 16 to shareholders of record September 22. Analysts maintain a consensus “Hold” rating.

Formula Systems (1985) Ltd. (NASDAQ:FORTY - Get Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 122 shares, a growth of 69.4% from the July 30th total of 72 shares. Approximately 0.0% of the company's shares are short sold. Based on an average daily volume of 388 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Formula Systems (1985)

Several hedge funds and other institutional investors have recently modified their holdings of FORTY. Dimensional Fund Advisors LP boosted its position 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 worth $391,000 after acquiring an additional 86 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Formula Systems (1985) in the second quarter worth $73,000. Altshuler Shaham Ltd boosted its holdings in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company's stock worth $926,000 after purchasing an additional 727 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) during the first quarter worth $206,000. Finally, Field & Main Bank bought a new position in Formula Systems (1985) in the second quarter valued at $3,072,000. Institutional investors and hedge funds own 34.76% of the company's stock.

Formula Systems (1985) Stock Performance

NASDAQ:FORTY remained flat at $125.72 during trading hours on Monday. 30 shares of the company's stock traded hands, compared to its average volume of 367. The firm has a 50 day moving average price of $110.22 and a 200 day moving average price of $122.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market cap of $1.93 billion, a P/E ratio of 3.16 and a beta of 1.20. Formula Systems has a 1 year low of $102.01 and a 1 year high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. 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%.The company had revenue of $782.44 million during the quarter.

Formula Systems (1985) Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 22nd will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Tuesday, September 22nd. This represents a dividend yield of 259.0%. Formula Systems (1985)'s dividend payout ratio is currently 1.86%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Formula Systems (1985) in a report on Thursday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently 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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