Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Friday . The stock had previously closed at $141.44, but opened at $133.37. Formula Systems (1985) shares last traded at $133.37, with a volume of 297 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Trading Down 7.7%

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 1.61. The stock’s 50-day moving average is $131.77 and its two-hundred day moving average is $146.55. The stock has a market cap of $2.04 billion, a P/E ratio of 3.48 and a beta of 1.17.

Institutional Investors Weigh In On Formula Systems (1985)

A number of hedge funds have recently bought and sold shares of FORTY. Raymond James Financial Inc. purchased a new stake in Formula Systems (1985) during the second quarter valued at $73,000. Elevation Point Wealth Partners LLC purchased a new stake in Formula Systems (1985) during the first quarter valued at $206,000. Dimensional Fund Advisors LP raised its stake 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 valued at $391,000 after purchasing an additional 86 shares in the last quarter. Altshuler Shaham Ltd raised its stake in 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 purchasing an additional 727 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its stake 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 acquiring an additional 755 shares during the period. Hedge funds and other institutional investors own 34.76% of the company’s stock.

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.