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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 38 shares, a decrease of 65.5% from the December 15th total of 110 shares. Based on an average daily trading volume, of 312 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 312 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. increased its stake in shares of 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 valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. CX Institutional purchased a new stake in shares of Formula Systems (1985) in the 3rd quarter worth approximately $398,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter worth approximately $222,000. Finally, Raymond James Financial Inc. bought a new position in Formula Systems (1985) during the 2nd quarter valued at approximately $73,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Formula Systems (1985) Trading Down 4.4%

NASDAQ FORTY traded down $7.40 during trading on Thursday, hitting $162.60. The company had a trading volume of 361 shares, compared to its average volume of 387. The company’s fifty day moving average is $166.36 and its 200-day moving average is $144.63. Formula Systems has a one year low of $82.52 and a one year high of $190.56. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 35.82 and a beta of 1.06.

Formula Systems (1985) (NASDAQ:FORTY) last issued its quarterly earnings data on Thursday, November 20th. The technology company reported $0.73 EPS for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%. The business had revenue of $696.64 million during the quarter.

Formula Systems (1985) Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.5021 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, December 30th. Formula Systems (1985)’s payout ratio is 31.28%.

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.