Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Decreases By 96.3%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 2 shares, a drop of 96.3% from the February 12th total of 54 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 226 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 226 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Formula Systems (1985)

A number of institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Formula Systems (1985) during the second quarter valued at approximately $222,000. CX Institutional acquired a new position in shares of Formula Systems (1985) in the third quarter valued at $398,000. Altshuler Shaham Ltd lifted its position in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in Formula Systems (1985) by 10.8% during the third 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 in the last quarter. Institutional investors own 34.76% of the company’s stock.

Formula Systems (1985) Stock Performance

FORTY stock remained flat at $128.20 during midday trading on Tuesday. 46 shares of the company’s stock were exchanged, compared to its average volume of 333. The company’s 50-day moving average price is $146.99 and its 200 day moving average price is $149.21. The stock has a market capitalization of $1.97 billion, a P/E ratio of 28.24 and a beta of 1.12. Formula Systems has a 12 month low of $82.52 and a 12 month high of $190.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.