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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 323 shares, a drop of 46.0% from the June 15th total of 598 shares. Based on an average trading volume of 460 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Formula Systems (1985) presently has an average rating of “Hold”.

Institutional Investors Weigh In On Formula Systems (1985)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the 2nd quarter worth about $73,000. Dimensional Fund Advisors LP grew its holdings in shares of Formula Systems (1985) by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares in the last quarter. Altshuler Shaham Ltd grew its holdings in shares of Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake 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 and hedge funds.

Formula Systems (1985) Stock Performance

NASDAQ FORTY remained flat at $108.00 during trading on Friday. The company’s stock had a trading volume of 603 shares, compared to its average volume of 444. The firm has a market cap of $1.66 billion, a P/E ratio of 2.75 and a beta of 1.21. The company has a 50 day moving average price of $123.10 and a 200-day moving average price of $133.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. Formula Systems has a 12-month low of $102.01 and a 12-month high of $190.56.

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

Formula Systems (1985) Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were issued a dividend of $13.045 per share. The ex-dividend date was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is presently 1.86%.

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.