GSA Capital Partners LLP Takes Position in Magic Software Enterprises Ltd. $MGIC

GSA Capital Partners LLP purchased a new stake in Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 193,941 shares of the software maker’s stock, valued at approximately $2,735,000. GSA Capital Partners LLP owned approximately 0.39% of Magic Software Enterprises at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp boosted its position in shares of Magic Software Enterprises by 1.4% during the 4th quarter. Truist Financial Corp now owns 30,112 shares of the software maker’s stock worth $775,000 after purchasing an additional 426 shares in the last quarter. Ameriprise Financial Inc. increased its position in Magic Software Enterprises by 5.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,361 shares of the software maker’s stock valued at $293,000 after buying an additional 768 shares in the last quarter. Lazard Asset Management LLC raised its stake in Magic Software Enterprises by 4.0% during the 4th quarter. Lazard Asset Management LLC now owns 24,734 shares of the software maker’s stock worth $637,000 after buying an additional 955 shares during the period. Swiss National Bank raised its stake in Magic Software Enterprises by 3.0% during the 4th quarter. Swiss National Bank now owns 53,457 shares of the software maker’s stock worth $1,393,000 after buying an additional 1,539 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Magic Software Enterprises in the second quarter worth approximately $33,000. Institutional investors and hedge funds own 24.70% of the company’s stock.

Magic Software Enterprises Stock Performance

Shares of Magic Software Enterprises stock opened at $17.38 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.48 and a current ratio of 1.48. Magic Software Enterprises Ltd. has a 52 week low of $11.65 and a 52 week high of $28.00. The stock has a 50 day moving average price of $17.38 and a two-hundred day moving average price of $18.08. The stock has a market capitalization of $853.36 million, a PE ratio of 21.46 and a beta of 0.73.

About Magic Software Enterprises

Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company’s platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.

The company’s flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.