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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 72 shares, a decrease of 51.0% from the July 15th total of 147 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 627 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Formula Systems (1985)

Several large investors have recently bought and sold shares of FORTY. Altshuler Shaham Ltd raised its holdings in shares of Formula Systems (1985) by 30.8% during the fourth 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 bought a new stake in Formula Systems (1985) in the 1st quarter worth approximately $206,000. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Finally, Dimensional Fund Advisors LP raised 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 buying an additional 86 shares during the last quarter. 34.76% of the stock is currently owned by institutional investors.

Formula Systems (1985) Stock Up 5.8%

Shares of FORTY traded up $6.33 on Tuesday, hitting $116.21. 922 shares of the stock traded hands, compared to its average volume of 622. The company has a market capitalization of $1.78 billion, a PE ratio of 2.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.68. The business has a 50 day simple moving average of $109.99 and a 200 day simple moving average of $124.23. Formula Systems has a one year low of $102.01 and a one year high of $190.56.

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

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.