Formula Systems (1985) Ltd. (NASDAQ:FORTY) Stock Short Interest Falls 74.2%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totaling 60 shares, a drop of 74.2% from the September 15th total of 233 shares. Based on an average daily volume of 1,655 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Institutional Trading of Formula Systems (1985)

Large investors have recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC acquired a new position in Formula Systems (1985) in the 1st quarter valued at about $206,000. Altshuler Shaham Ltd lifted its holdings in Formula Systems (1985) by 30.8% in the 4th quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock valued at $1,182,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake 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 worth $391,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

Formula Systems (1985) Price Performance

Shares of FORTY remained flat at $111.50 during mid-day trading on Tuesday. 209 shares of the stock were exchanged, compared to its average volume of 1,314. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.44 and a current ratio of 1.48. Formula Systems has a fifty-two week low of $102.01 and a fifty-two week high of $190.56. The company has a market cap of $1.71 billion, a P/E ratio of 2.80 and a beta of 1.25. The stock’s 50-day simple moving average is $117.55 and its 200-day simple moving average is $121.17.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Wednesday, August 26th. The technology company reported $1.47 earnings per share (EPS) for 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. Stockholders of record on Tuesday, September 22nd will be issued a $1.63 dividend. The ex-dividend date of this dividend is Tuesday, September 22nd. Formula Systems (1985)’s payout ratio is 6.03%.

About Formula Systems (1985)

Formula Systems (1985) Ltd. is an Israel-based holding company that operates through a group of technology and information-services businesses. Rather than developing a single product line, Formula Systems invests in and manages companies that provide software, consulting, systems integration, information technology services and other enterprise technology solutions.

Its principal subsidiaries include Matrix IT, a provider of information technology services, consulting, outsourcing, systems integration and training; Sapiens International, which develops software platforms and solutions for the insurance industry; and Magic Software Enterprises, which provides application development, digital transformation, integration, cloud and information technology services.