Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Up 69.4% in August

Formula Systems (1985) Ltd. (NASDAQ:FORTYGet Free Report) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 122 shares, a growth of 69.4% from the July 30th total of 72 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 388 shares, the short-interest ratio is presently 0.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research note on Thursday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Read Our Latest Report on FORTY

Hedge Funds Weigh In On Formula Systems (1985)

A number of hedge funds have recently bought and sold shares of FORTY. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) in the second quarter valued at approximately $73,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Formula Systems (1985) during the 1st quarter valued at $206,000. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 86 shares during the last quarter. Altshuler Shaham Ltd grew its stake in shares of Formula Systems (1985) by 10.4% during the 1st quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock worth $926,000 after acquiring an additional 727 shares during the period. Finally, Field & Main Bank purchased a new stake in Formula Systems (1985) in the 2nd quarter worth about $3,072,000. 34.76% of the stock is owned by hedge funds and other institutional investors.

Formula Systems (1985) Price Performance

NASDAQ:FORTY remained flat at $125.72 during trading hours on Monday. The company had a trading volume of 30 shares, compared to its average volume of 367. The stock has a fifty day simple moving average of $110.22 and a two-hundred day simple moving average of $122.22. Formula Systems has a fifty-two week low of $102.01 and a fifty-two week high of $190.56. The stock has a market capitalization of $1.93 billion, a P/E ratio of 3.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.48 and a quick ratio of 1.44.

Formula Systems (1985) (NASDAQ:FORTYGet Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The technology company reported $1.47 earnings per share for the quarter. The business had revenue of $782.44 million during the quarter. Formula Systems (1985) had a return on equity of 4.38% and a net margin of 21.57%.

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 22nd will be paid a dividend of $1.63 per share. The ex-dividend date is Tuesday, September 22nd. This represents a yield of 259.0%. Formula Systems (1985)’s payout ratio is 1.86%.

Formula Systems (1985) Company Profile

(Get Free Report)

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.

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