Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Decreases By 84.2%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 19 shares, a decline of 84.2% from the April 15th total of 120 shares. Based on an average daily trading volume, of 334 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Formula Systems (1985) Stock Performance

Shares of FORTY stock remained flat at $147.40 on Tuesday. The stock had a trading volume of 261 shares, compared to its average volume of 447. The firm has a market capitalization of $2.26 billion, a PE ratio of 3.85 and a beta of 1.17. The stock’s 50 day simple moving average is $128.77 and its 200-day simple moving average is $146.67. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.07. Formula Systems has a one year low of $96.05 and a one year high of $190.56.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Formula Systems (1985)

Large investors have recently modified their holdings of the business. GHP Investment Advisors Inc. lifted its holdings in shares of 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 valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. Altshuler Shaham Ltd increased its stake 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 purchasing an additional 1,650 shares in the last quarter. Dimensional Fund Advisors LP increased 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 worth $391,000 after purchasing an additional 86 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the 1st quarter worth approximately $206,000. Finally, Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. 34.76% of the stock is currently owned by 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.