Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Update

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 110 shares, an increase of 340.0% from the November 30th total of 25 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 309 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 309 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

Shares of FORTY stock opened at $186.87 on Thursday. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 41.16 and a beta of 1.07. Formula Systems has a one year low of $80.15 and a one year high of $190.56. The company’s 50-day simple moving average is $158.02 and its 200-day simple moving average is $138.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.58 and a current ratio of 1.60.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share for the quarter. Formula Systems (1985) had a return on equity of 4.55% and a net margin of 2.49%.The business had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Tuesday, December 30th will be issued a dividend of $0.5021 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Formula Systems (1985)’s dividend payout ratio is 31.28%.

Institutional Investors Weigh In On Formula Systems (1985)

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the 2nd quarter worth approximately $222,000. CX Institutional acquired a new position in Formula Systems (1985) during the 3rd quarter valued at approximately $398,000. Finally, GHP Investment Advisors Inc. grew its stake in 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 worth $1,082,000 after buying an additional 755 shares during the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

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.