Legal & General Group Plc Acquires New Holdings in Magic Software Enterprises Ltd. $MGIC

Legal & General Group Plc bought a new position in Magic Software Enterprises Ltd. (NASDAQ:MGIC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,619,975 shares of the software maker’s stock, valued at approximately $22,842,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MGIC. Raymond James Financial Inc. acquired a new stake in shares of Magic Software Enterprises in the 2nd quarter valued at $33,000. State of Tennessee Department of Treasury acquired a new stake in shares of Magic Software Enterprises in the second quarter worth about $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Magic Software Enterprises in the third quarter worth about $62,000. Russell Investments Group Ltd. boosted its stake in shares of Magic Software Enterprises by 2,112.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,177 shares of the software maker’s stock worth $106,000 after acquiring an additional 4,943 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Magic Software Enterprises during the 2nd quarter worth about $179,000. Institutional investors own 24.70% of the company’s stock.

Magic Software Enterprises Stock Performance

Shares of NASDAQ MGIC opened at $17.38 on Friday. The business’s 50-day simple moving average is $17.38 and its 200-day simple moving average is $17.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.48 and a current ratio of 1.48. Magic Software Enterprises Ltd. has a 52 week low of $11.65 and a 52 week high of $28.00. The firm has a market cap of $853.36 million, a price-to-earnings ratio of 21.46 and a beta of 0.73.

About Magic Software Enterprises

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.