Formula Systems (1985) Ltd. (NASDAQ:FORTY) Shares Shorted: Short Interest Up 3,203.3% in October

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,982 shares, an increase of 3,203.3% from the September 30th total of 60 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 658 shares, the short-interest ratio is presently 3.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday, August 27th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Formula Systems (1985) Stock Performance

FORTY traded up $12.90 during trading on Monday, hitting $129.90. The stock had a trading volume of 2,043 shares, compared to its average volume of 787. The firm has a market capitalization of $1.99 billion, a P/E ratio of 3.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. Formula Systems has a twelve month low of $102.01 and a twelve month high of $190.56. The company’s 50-day moving average price is $118.99 and its 200 day moving average price is $120.81.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd were given a dividend of $1.63 per share. The ex-dividend date was Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is presently 6.03%.

Institutional Trading of Formula Systems (1985)

Hedge funds have recently modified their holdings of the business. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the first quarter valued at approximately $206,000. Altshuler Shaham Ltd raised its position in Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Formula Systems (1985) by 2.7% in 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. 34.76% of the stock is owned by institutional investors and hedge funds.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that invests in and manages technology businesses. Established in 1985, the company focuses primarily on software, information technology services and technology-enabled business solutions through its principal operating subsidiaries.

Formula Systems’ portfolio includes Matrix IT, an Israeli provider of systems integration, consulting, outsourcing, cloud, cybersecurity and other information technology services; Magic Software Enterprises, which provides software development, digital transformation, cloud, data and application integration services; and Sapiens International, a provider of software platforms and solutions for the insurance, financial services and retirement markets.

Through these businesses, Formula Systems serves customers in Israel and international markets, including North America, Europe and the Asia-Pacific region.