Short Interest in Formula Systems (1985) Ltd. (NASDAQ:FORTY) Decreases By 84.2%

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 19 shares, a decrease of 84.2% from the April 15th total of 120 shares. Based on an average daily volume of 334 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Trading of Formula Systems (1985)

Several hedge funds and other institutional investors have recently bought and sold shares of FORTY. Raymond James Financial Inc. acquired a new stake in Formula Systems (1985) in the 2nd quarter worth about $73,000. Elevation Point Wealth Partners LLC acquired a new stake in Formula Systems (1985) during the first quarter worth approximately $206,000. Dimensional Fund Advisors LP grew its position 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 buying an additional 86 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock worth $1,082,000 after buying an additional 755 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 30.8% during the fourth quarter. Altshuler Shaham Ltd now owns 7,015 shares of the technology company’s stock worth $1,182,000 after buying an additional 1,650 shares in the last quarter. Institutional investors and hedge funds own 34.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One 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) Stock Performance

FORTY stock traded up $2.55 during mid-day trading on Thursday, hitting $141.44. 1,246 shares of the company were exchanged, compared to its average volume of 334. The business has a 50 day simple moving average of $130.20 and a 200-day simple moving average of $146.66. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.17 billion, a PE ratio of 3.69 and a beta of 1.17. Formula Systems has a 1-year low of $97.50 and a 1-year high of $190.56.

About Formula Systems (1985)

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.