Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Here’s Why

Formula Systems (1985) Ltd. (NASDAQ:FORTY) shares gapped down prior to trading on Thursday . The stock had previously closed at $89.00, but opened at $83.70. Formula Systems (1985) shares last traded at $83.00, with a volume of 1,107 shares changing hands.

Formula Systems (1985) Price Performance

The business’s 50-day simple moving average is $88.04 and its 200 day simple moving average is $80.66. The company has a current ratio of 1.41, a quick ratio of 1.38 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.27 billion, a P/E ratio of 17.22 and a beta of 1.08.

Hedge Funds Weigh In On Formula Systems (1985)

A hedge fund recently raised its stake in Formula Systems (1985) stock. Altshuler Shaham Ltd raised its position in shares of Formula Systems (1985) Ltd. (NASDAQ:FORTY) by 52.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,711 shares of the technology company’s stock after buying an additional 2,303 shares during the quarter. Altshuler Shaham Ltd’s holdings in Formula Systems (1985) were worth $478,000 at the end of the most recent quarter. Institutional investors own 34.76% of the company’s stock.

About Formula Systems (1985)

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data.