Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Significant Drop in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 72 shares, a decline of 51.0% from the July 15th total of 147 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 627 shares, the short-interest ratio is presently 0.1 days.

Formula Systems (1985) Stock Performance

Shares of FORTY stock remained flat at $109.25 during trading hours on Friday. The stock had a trading volume of 32 shares, compared to its average volume of 539. Formula Systems has a 1-year low of $102.01 and a 1-year high of $190.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.68 and a quick ratio of 1.66. The firm has a market cap of $1.67 billion, a P/E ratio of 2.78 and a beta of 1.20. The stock has a 50-day simple moving average of $110.38 and a two-hundred day simple moving average of $124.97.

Formula Systems (1985) (NASDAQ:FORTY) last announced its quarterly earnings data on Thursday, May 28th. The technology company reported $2.25 EPS for the quarter. The firm had revenue of $738.29 million for the quarter. Formula Systems (1985) had a return on equity of 4.01% and a net margin of 21.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd grew its holdings in shares of Formula Systems (1985) by 10.4% in the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after purchasing an additional 727 shares during the period. Dimensional Fund Advisors LP raised its stake in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after purchasing an additional 86 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) during the first quarter worth about $206,000. Finally, Raymond James Financial Inc. acquired a new position in Formula Systems (1985) in the 2nd quarter valued at about $73,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Company Profile

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.