Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Update

Formula Systems (1985) Ltd. (NASDAQ:FORTY) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 19 shares, a drop of 84.2% from the April 15th total of 120 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 334 shares, the days-to-cover ratio is currently 0.1 days.

Formula Systems (1985) Stock Performance

Formula Systems (1985) stock remained flat at $147.40 on Tuesday. The company’s stock had a trading volume of 261 shares, compared to its average volume of 447. The company’s fifty day moving average is $128.77 and its two-hundred day moving average is $146.67. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.61 and a current ratio of 1.63. The stock has a market capitalization of $2.26 billion, a P/E ratio of 3.85 and a beta of 1.17. Formula Systems has a one year low of $96.05 and a one year high of $190.56.

Formula Systems (1985) (NASDAQ:FORTY) last released its quarterly earnings results on Thursday, March 26th. The technology company reported $35.03 earnings per share (EPS) for the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.The business had revenue of $708.38 million during the quarter.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Formula Systems (1985)

A number of large investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Formula Systems (1985) in the 2nd quarter worth approximately $73,000. GHP Investment Advisors Inc. boosted its holdings in Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after acquiring an additional 755 shares during the last quarter. Altshuler Shaham Ltd increased its position in Formula Systems (1985) by 30.8% in the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after purchasing an additional 1,650 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) during the 1st quarter worth about $206,000. Finally, Dimensional Fund Advisors LP lifted its position 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 purchasing an additional 86 shares during the period. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.