Magal Security Systems Ltd. (NASDAQ:MAGS) Sees Significant Drop in Short Interest

Magal Security Systems Ltd. (NASDAQ:MAGS) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 66,700 shares, a drop of 20.2% from the August 15th total of 83,600 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 237,500 shares, the short-interest ratio is currently 0.3 days.

NASDAQ:MAGS opened at $5.46 on Thursday. The firm has a market capitalization of $126.55 million, a price-to-earnings ratio of 13.32 and a beta of 1.04. Magal Security Systems has a 52-week low of $3.53 and a 52-week high of $5.97. The stock has a fifty day moving average of $5.10 and a 200 day moving average of $4.73.

Magal Security Systems (NASDAQ:MAGS) last posted its quarterly earnings data on Thursday, August 12th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $10.10 million during the quarter. Magal Security Systems had a negative return on equity of 0.13% and a net margin of 15.27%.

The firm also recently disclosed a — dividend, which was paid on Wednesday, September 22nd. Investors of record on Tuesday, August 31st were paid a dividend of $1.725 per share. This represents a yield of 20.5%. The ex-dividend date of this dividend was Thursday, September 23rd.

An institutional investor recently bought a new position in Magal Security Systems stock. Susquehanna International Group LLP purchased a new position in shares of Magal Security Systems Ltd. (NASDAQ:MAGS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,026 shares of the industrial products company’s stock, valued at approximately $57,000. Susquehanna International Group LLP owned about 0.05% of Magal Security Systems as of its most recent SEC filing. 15.39% of the stock is currently owned by hedge funds and other institutional investors.

Magal Security Systems Company Profile

Magal Security Systems Ltd engages in the manufacture and marketing of computerized security systems. It operates through the following segments: Perimeter Products, Turnkey Projects, and Video & Cyber Security. The Perimeter Products segment sells perimeter products, including services and maintenance that are performed either on a fixed-price basis or pursuant to time-and-materials based contracts.

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