Formula Systems (1985) (NASDAQ:FORTY) Hits New 1-Year Low – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $106.50 and last traded at $106.50, with a volume of 208 shares changing hands. The stock had previously closed at $108.49.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Down 1.8%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The business has a fifty day simple moving average of $132.19 and a 200 day simple moving average of $142.38. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 2.71 and a beta of 1.17.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The company 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 declared a special dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 22nd were given a dividend of $13.045 per share. The ex-dividend date of this dividend was Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio (DPR) is currently 2.72%.

Institutional Trading of Formula Systems (1985)

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Formula Systems (1985) during the second quarter worth approximately $73,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Formula Systems (1985) during the 1st quarter worth $206,000. Finally, Dimensional Fund Advisors LP increased its stake in Formula Systems (1985) by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the period. Institutional investors own 34.76% of the company’s stock.

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.