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

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

Analysts Set New Price Targets

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

Formula Systems (1985) Price Performance

Shares of FORTY stock remained flat at $117.50 on Thursday. 1,901 shares of the stock traded hands, compared to its average volume of 516. The company’s 50-day moving average is $133.28 and its 200 day moving average is $144.53. The company has a market cap of $1.80 billion, a PE ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. Formula Systems has a 52 week low of $101.21 and a 52 week high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY) last announced its earnings results on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. The company had revenue of $738.29 million during the quarter. Formula Systems (1985) had a net margin of 21.58% and a return on equity of 4.01%.

Formula Systems (1985) Announces Dividend

The company also recently announced a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be issued a $13.045 dividend. The ex-dividend date is Friday, May 22nd. Formula Systems (1985)’s dividend payout ratio is currently 27.55%.

Institutional Trading of Formula Systems (1985)

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the second quarter worth about $73,000. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the first quarter worth about $206,000. Dimensional Fund Advisors LP increased its holdings in 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 worth $391,000 after buying an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its holdings 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 worth $926,000 after buying an additional 727 shares during the last quarter. Hedge funds and other institutional investors own 34.76% of the company’s stock.

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.