Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Increases By 89.5%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 36 shares, an increase of 89.5% from the April 30th total of 19 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 417 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report 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 a consensus rating of “Hold”.

Formula Systems (1985) Stock Up 0.3%

Shares of NASDAQ:FORTY opened at $133.00 on Tuesday. The business’s 50 day simple moving average is $132.53 and its two-hundred day simple moving average is $145.89. The firm has a market cap of $2.04 billion, a P/E ratio of 3.38 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. Formula Systems has a 52-week low of $101.21 and a 52-week high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share (EPS) for the quarter. The business had revenue of $738.29 million for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Formula Systems (1985) Announces Dividend

The business also recently announced a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be issued a $13.045 dividend. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 27.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) in the second quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC bought a new position in shares of Formula Systems (1985) in the first quarter valued at approximately $206,000. Dimensional Fund Advisors LP lifted 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 in the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in shares of Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors 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.