Y.D. More Investments Ltd Increases Stock Holdings in Magic Software Enterprises Ltd. $MGIC

Y.D. More Investments Ltd raised its position in Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 264,837 shares of the software maker’s stock after acquiring an additional 33,069 shares during the quarter. Y.D. More Investments Ltd’s holdings in Magic Software Enterprises were worth $6,893,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Magic Software Enterprises during the second quarter worth about $33,000. Quent Capital LLC acquired a new position in shares of Magic Software Enterprises in the third quarter valued at approximately $41,000. State of Tennessee Department of Treasury purchased a new stake in Magic Software Enterprises during the 2nd quarter worth approximately $46,000. CWM LLC increased its stake in Magic Software Enterprises by 1,045.5% during the 3rd quarter. CWM LLC now owns 2,291 shares of the software maker’s stock worth $47,000 after buying an additional 2,091 shares during the period. Finally, IFP Advisors Inc lifted its holdings in Magic Software Enterprises by 38.8% during the 3rd quarter. IFP Advisors Inc now owns 2,775 shares of the software maker’s stock worth $57,000 after buying an additional 775 shares in the last quarter. 24.70% of the stock is currently owned by hedge funds and other institutional investors.

Magic Software Enterprises Price Performance

Shares of NASDAQ MGIC opened at $17.38 on Monday. The business has a 50-day moving average of $19.39 and a two-hundred day moving average of $22.02. The company has a market capitalization of $853.36 million, a price-to-earnings ratio of 21.46 and a beta of 0.73. Magic Software Enterprises Ltd. has a 1 year low of $11.65 and a 1 year high of $28.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.48 and a quick ratio of 1.48.

Analyst Ratings Changes

MGIC has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Magic Software Enterprises in a research report on Monday, December 29th. Wall Street Zen cut Magic Software Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

Magic Software Enterprises Profile

Magic Software Enterprises Ltd. is a global provider of enterprise software solutions that enable organizations to develop, integrate and manage business applications across cloud and on-premises environments. Serving clients in industries such as financial services, healthcare, manufacturing and distribution, the company’s platforms are designed to accelerate digital transformation by streamlining the creation of web, desktop and mobile applications while ensuring seamless data flow between disparate systems.

The company’s flagship offering, the Magic xpa Application Platform, provides a low-code development environment that simplifies the design, deployment and maintenance of enterprise applications.