GSA Capital Partners LLP Takes Position in Magic Software Enterprises Ltd. $MGIC

GSA Capital Partners LLP bought a new position in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the 2nd quarter, HoldingsChannel reports. The fund bought 193,941 shares of the software maker’s stock, valued at approximately $2,735,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Magic Software Enterprises during the 2nd quarter worth approximately $33,000. State of Tennessee Department of Treasury bought a new position in shares of Magic Software Enterprises in the second quarter valued at approximately $46,000. BNP Paribas Financial Markets bought a new position in shares of Magic Software Enterprises in the third quarter valued at approximately $62,000. Russell Investments Group Ltd. lifted its holdings in shares of Magic Software Enterprises by 2,112.4% in the third quarter. Russell Investments Group Ltd. now owns 5,177 shares of the software maker’s stock valued at $106,000 after purchasing an additional 4,943 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Magic Software Enterprises by 111.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,784 shares of the software maker’s stock valued at $200,000 after buying an additional 4,105 shares during the last quarter. Institutional investors and hedge funds own 24.70% of the company’s stock.

Magic Software Enterprises Stock Performance

Shares of Magic Software Enterprises stock opened at $17.38 on Friday. The stock has a fifty day simple moving average of $17.38 and a 200 day simple moving average of $18.08. Magic Software Enterprises Ltd. has a 12-month low of $11.65 and a 12-month high of $28.00. The company has a market capitalization of $853.36 million, a P/E ratio of 21.46 and a beta of 0.73. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.11.

Magic Software Enterprises Profile

Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company’s platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.

The company’s flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.