Global Retirement Partners LLC acquired a new stake in Magic Software Enterprises Ltd. (NASDAQ:MGIC – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 372,642 shares of the software maker’s stock, valued at approximately $5,254,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Magic Software Enterprises during the second quarter worth $33,000. State of Tennessee Department of Treasury bought a new position in shares of Magic Software Enterprises in the second quarter worth about $46,000. BNP Paribas Financial Markets bought a new position in shares of Magic Software Enterprises in the third quarter worth about $62,000. Russell Investments Group Ltd. increased its stake in Magic Software Enterprises by 2,112.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 5,177 shares of the software maker’s stock worth $106,000 after buying an additional 4,943 shares during the period. Finally, State of Wyoming purchased a new position in Magic Software Enterprises in the 2nd quarter worth about $179,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.
Magic Software Enterprises Stock Performance
Shares of MGIC opened at $17.38 on Monday. The firm has a market capitalization of $853.36 million, a price-to-earnings ratio of 21.46 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.48 and a quick ratio of 1.48. Magic Software Enterprises Ltd. has a 1-year low of $11.65 and a 1-year high of $28.00. The company has a 50-day moving average of $17.38 and a 200 day moving average of $18.02.
Magic Software Enterprises Company 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.
See Also
- Five stocks we like better than Magic Software Enterprises
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding MGIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magic Software Enterprises Ltd. (NASDAQ:MGIC – Free Report).
Receive News & Ratings for Magic Software Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magic Software Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.
