Formula Systems (1985) (NASDAQ:FORTY) Hits New 12-Month Low – Here’s What Happened

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $106.50 and last traded at $106.50, with a volume of 208 shares traded. The stock had previously closed at $108.49.

Wall Street Analyst Weigh In

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

Formula Systems (1985) Trading Down 1.8%

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 1.66, a current ratio of 1.68 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $132.19 and its 200 day simple moving average is $142.38.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The company had revenue of $738.28 million for the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Dividend Announcement

The firm also recently declared a special dividend, which was paid on Monday, June 15th. Shareholders 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 payout ratio is 2.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 86 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the second quarter valued at about $73,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the first quarter valued at about $206,000. 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.