Formula Systems (1985) Ltd. (NASDAQ:FORTY) Sees Large Growth in Short Interest

Formula Systems (1985) Ltd. (NASDAQ:FORTY) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 120 shares, an increase of 5,900.0% from the March 31st total of 2 shares. Based on an average trading volume of 409 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Trading of Formula Systems (1985)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd increased its position 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 buying an additional 1,650 shares in the last quarter. GHP Investment Advisors Inc. boosted its stake in Formula Systems (1985) by 10.8% during the 3rd 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 during the last quarter. CX Institutional acquired a new position in Formula Systems (1985) during the 3rd quarter valued at about $398,000. Finally, Raymond James Financial Inc. acquired a new position in Formula Systems (1985) during the 2nd quarter valued at about $73,000. 34.76% of the stock is owned by institutional investors.

Formula Systems (1985) Stock Performance

Shares of Formula Systems (1985) stock opened at $141.00 on Friday. Formula Systems has a one year low of $85.30 and a one year high of $190.56. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 3.68 and a beta of 1.10. The business has a 50-day simple moving average of $125.16 and a 200 day simple moving average of $147.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.63 and a quick ratio of 1.61.

Formula Systems (1985) (NASDAQ:FORTY) last issued its earnings results on Thursday, March 26th. The technology company reported $35.03 EPS for the quarter. Formula Systems (1985) had a return on equity of 3.24% and a net margin of 20.89%.The business had revenue of $708.38 million during the quarter.

Analyst Ratings Changes

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, According to data from MarketBeat, the stock currently has a consensus 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.