Formula Systems (1985) Ltd. (NASDAQ:FORTY) Stock Short Interest Jumps 3,203.3%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,982 shares, an increase of 3,203.3% from the September 30th total of 60 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 658 shares, the short-interest ratio is presently 3.0 days.

Analysts Set New Price Targets

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

Institutional Trading of Formula Systems (1985)

Several hedge funds have recently modified their holdings of FORTY. Dimensional Fund Advisors LP boosted its position 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 purchasing an additional 86 shares during the period. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 10.4% in the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after buying an additional 727 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the first quarter worth $206,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

Formula Systems (1985) Price Performance

FORTY remained flat at $127.99 on Wednesday. 167 shares of the company’s stock traded hands. Formula Systems has a twelve month low of $102.01 and a twelve month high of $190.56. The business has a 50-day simple moving average of $119.37 and a two-hundred day simple moving average of $126.02.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for the quarter.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 22nd were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Tuesday, September 22nd.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.