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

Formula Systems (1985) Ltd. (NASDAQ:FORTY)’s share price 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 company has a market cap of $1.27 billion, a P/E ratio of 17.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.38 and a current ratio of 1.41. The stock has a 50-day simple moving average of $88.01 and a 200 day simple moving average of $80.57.

Hedge Funds Weigh In On Formula Systems (1985)

An institutional investor recently bought a new position in Formula Systems (1985) stock. Jane Street Group LLC bought a new stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,772 shares of the technology company’s stock, valued at approximately $222,000. 34.76% of the stock is currently owned by institutional investors and hedge funds.

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.