Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Increases By 340.0%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a significant 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. Based on an average trading volume of 309 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 309 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently 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 company. CX Institutional acquired a new stake in Formula Systems (1985) in the third quarter worth approximately $398,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) in the 2nd quarter worth $222,000. GHP Investment Advisors Inc. lifted its holdings in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Formula Systems (1985) in the second quarter valued at $73,000. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Trading Up 4.9%

Shares of FORTY stock opened at $186.87 on Thursday. Formula Systems has a 1 year low of $80.15 and a 1 year high of $190.56. The firm has a market capitalization of $2.87 billion, a PE ratio of 41.16 and a beta of 1.07. The stock has a fifty day moving average of $158.02 and a two-hundred day moving average of $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 data on Thursday, November 20th. The technology company reported $0.73 earnings per share for the quarter. The business had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be paid a $0.5021 dividend. 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 currently 31.28%.

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.