Clal Insurance Enterprises Holdings Ltd
revealed that they own a 5.7% stake in Formula Systems (1985) Ltd. (NASDAQ:FORTY) in a Schedule 13G disclosure that was filed with the SEC on Monday, August 14th. The investor owns 834,919 shares of the stock valued at about $29,656,406. The reporting parties listed on the disclosure included Clal Insurance Enterprises Holdings Ltd and IDB Development Corporation Ltd. The disclosure is available through EDGAR at this hyperlink.
Clal Insurance Enterprises Holdings Ltd
provided the following explanation of their ownership:
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Separately, Sawtooth Solutions LLC boosted its stake in Formula Systems (1985) by 8.6% in the second quarter. Sawtooth Solutions LLC now owns 12,433 shares of the technology company’s stock worth $458,000 after buying an additional 980 shares during the last quarter. 0.11% of the stock is currently owned by hedge funds and other institutional investors.
Formula Systems (FORTY) traded up 4.0138% during mid-day trading on Monday, reaching $36.9458. 1,157 shares of the company’s stock were exchanged. Formula Systems has a 52 week low of $35.52 and a 52 week high of $44.20.
Formula Systems (1985) Company Profile
Formula Systems (1985) Ltd. (Formula) is a global information technology (IT) solutions and services holding company. The Company, through its directly held subsidiary and affiliated companies, is engaged in providing software solutions and services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration.
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