Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Up 1,044.4% in May

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 412 shares, an increase of 1,044.4% from the May 14th total of 36 shares. Based on an average daily trading volume, of 641 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.0% of the company’s stock are sold short.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock traded down $8.00 during trading hours on Tuesday, hitting $121.50. 768 shares of the stock traded hands, compared to its average volume of 484. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The firm’s 50 day moving average price is $133.18 and its 200-day moving average price is $144.78. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 3.09 and a beta of 1.17. Formula Systems has a 1 year low of $101.21 and a 1 year high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY) last posted its quarterly earnings results on Thursday, May 28th. The technology company reported $2.25 earnings per share for the quarter. The business had revenue of $738.29 million for 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 company also recently declared a special dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 22nd will be paid a dividend of $13.045 per share. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s payout ratio is presently 27.55%.

Institutional Trading of Formula Systems (1985)

Several large investors have recently added to or reduced their stakes in FORTY. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the 2nd quarter valued at about $73,000. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) by 30.8% during the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the 1st quarter valued at about $206,000. Finally, Dimensional Fund Advisors LP grew 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 valued at $391,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 34.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Formula Systems (1985) presently has a consensus rating of “Hold”.

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.