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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 10 shares, a decline of 77.3% from the January 15th total of 44 shares. Based on an average daily volume of 293 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 293 shares, the days-to-cover ratio is currently 0.0 days.

Formula Systems (1985) Stock Performance

Shares of NASDAQ:FORTY traded up $5.75 during trading on Tuesday, hitting $138.13. 603 shares of the stock traded hands, compared to its average volume of 294. Formula Systems has a 52-week low of $82.52 and a 52-week high of $190.56. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.60 and a quick ratio of 1.58. The company has a fifty day moving average price of $168.07 and a two-hundred day moving average price of $148.67.

Formula Systems (1985) (NASDAQ:FORTY) last posted its earnings results on Thursday, November 20th. The technology company reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $696.64 million for the quarter. Formula Systems (1985) had a net margin of 2.49% and a return on equity of 4.55%.

Formula Systems (1985) Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, December 30th were issued a $0.5021 dividend. This represents a $2.01 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, December 30th. Formula Systems (1985)’s payout ratio is presently 32.60%.

Institutional Trading of Formula Systems (1985)

Several large investors have recently made changes to their positions in FORTY. Elevation Point Wealth Partners LLC acquired a new stake in shares of Formula Systems (1985) during the 2nd quarter worth about $222,000. GHP Investment Advisors Inc. grew its holdings in shares of Formula Systems (1985) by 10.8% in the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after purchasing an additional 755 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter worth $73,000. Finally, CX Institutional acquired a new position in Formula Systems (1985) during the 3rd quarter worth approximately $398,000. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.