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

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a significant 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. Based on an average trading volume of 388 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the stock are short sold.

Formula Systems (1985) Price Performance

Shares of Formula Systems (1985) stock opened at $125.72 on Wednesday. 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 has a one year low of $102.01 and a one year high of $190.56. The business’s 50 day simple moving average is $110.95 and its two-hundred day simple moving average is $122.09. The stock has a market capitalization of $1.93 billion, a P/E ratio of 3.16 and a beta of 1.21.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Tuesday, August 25th. The technology company reported $1.47 earnings per share (EPS) for the quarter. The firm had revenue of $782.44 million for the quarter. Formula Systems (1985) had a net margin of 21.57% and a return on equity of 4.38%.

Formula Systems (1985) Announces Dividend

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

Institutional Investors Weigh In On Formula Systems (1985)

Several hedge funds have recently made changes to their positions in FORTY. Raymond James Financial Inc. purchased a new stake in shares of Formula Systems (1985) in the 2nd quarter worth approximately $73,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Formula Systems (1985) in the first quarter worth $206,000. Dimensional Fund Advisors LP grew its stake in shares of Formula Systems (1985) by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock worth $391,000 after acquiring an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd increased its holdings in shares of Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after acquiring an additional 727 shares in the last quarter. 34.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, According to MarketBeat.com, Formula Systems (1985) has an average rating of “Hold”.

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.