Formula Systems (1985) Ltd. (NASDAQ:FORTY) Short Interest Up 1,044.4% in May

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 412 shares, an increase of 1,044.4% from the May 14th total of 36 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 641 shares, the short-interest ratio is currently 0.6 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Formula Systems (1985) Stock Down 6.2%

Shares of FORTY traded down $8.00 during trading hours on Tuesday, hitting $121.50. The company had a trading volume of 768 shares, compared to its average volume of 484. The company has a market capitalization of $1.86 billion, a PE ratio of 3.09 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 1.66 and a debt-to-equity ratio of 0.12. Formula Systems has a one year low of $101.21 and a one year high of $190.56. The company’s fifty day moving average price is $133.18 and its two-hundred day moving average price is $144.78.

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

Formula Systems (1985) Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 22nd will be given a $13.045 dividend. The ex-dividend date of this dividend is Friday, May 22nd. Formula Systems (1985)’s payout ratio is presently 27.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FORTY. Raymond James Financial Inc. purchased a new position in Formula Systems (1985) during the 2nd quarter worth $73,000. Altshuler Shaham Ltd grew its stake in Formula Systems (1985) by 30.8% during the 4th 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 during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Formula Systems (1985) during the 1st quarter worth $206,000. Finally, Dimensional Fund Advisors LP grew its stake in 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 buying an additional 86 shares during the last quarter. 34.76% of the stock is currently owned by hedge funds and other institutional investors.

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.