Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Growth in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 122 shares, an increase of 69.4% from the July 30th total of 72 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 388 shares, the days-to-cover ratio is currently 0.3 days.

Formula Systems (1985) Price Performance

Formula Systems (1985) stock remained flat at $125.72 during mid-day trading on Tuesday. 271 shares of the company’s stock traded hands, compared to its average volume of 367. The firm has a market capitalization of $1.93 billion, a PE ratio of 3.16 and a beta of 1.20. Formula Systems has a 12-month low of $102.01 and a 12-month high of $190.56. The firm’s fifty day simple moving average is $110.57 and its two-hundred day simple moving average is $122.13. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.13.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Tuesday, August 25th. The technology company reported $1.47 EPS for the quarter. The company had revenue of $782.44 million during the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 22nd will be given a $1.63 dividend. The ex-dividend date is Tuesday, September 22nd. This represents a dividend yield of 259.0%. Formula Systems (1985)’s dividend payout ratio (DPR) is 4.87%.

Institutional Trading of Formula Systems (1985)

Institutional investors and hedge funds have recently bought and sold shares of the stock. Altshuler Shaham Ltd lifted its stake in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after acquiring an additional 86 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the first quarter valued at approximately $206,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter valued at approximately $73,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a report on Thursday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently 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.