Magic Software Enterprises Ltd. (NASDAQ:MGIC) Short Interest Update

Magic Software Enterprises Ltd. (NASDAQ:MGIC) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 41,100 shares, a decrease of 68.2% from the November 30th total of 129,200 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 43,200 shares, the short-interest ratio is currently 1.0 days.

Magic Software Enterprises Stock Performance

Shares of MGIC traded up $0.02 during mid-day trading on Thursday, hitting $11.91. 16,010 shares of the company’s stock were exchanged, compared to its average volume of 54,792. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. Magic Software Enterprises has a fifty-two week low of $9.38 and a fifty-two week high of $13.40. The business’s 50 day moving average is $11.59 and its two-hundred day moving average is $11.09. The firm has a market capitalization of $584.77 million, a P/E ratio of 17.01 and a beta of 1.09.

Magic Software Enterprises Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd will be paid a $0.236 dividend. This is an increase from Magic Software Enterprises’s previous semi-annual dividend of $0.20. This represents a dividend yield of 3.7%. The ex-dividend date is Monday, December 23rd. Magic Software Enterprises’s dividend payout ratio (DPR) is 67.14%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays upped their target price on Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Sunday.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Copeland Capital Management LLC purchased a new position in Magic Software Enterprises in the 3rd quarter valued at $47,000. Barclays PLC lifted its stake in shares of Magic Software Enterprises by 4,274.4% in the 3rd quarter. Barclays PLC now owns 5,818 shares of the software maker’s stock worth $69,000 after acquiring an additional 5,685 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Magic Software Enterprises in the third quarter valued at about $115,000. Tidal Investments LLC increased its stake in shares of Magic Software Enterprises by 4.6% during the third quarter. Tidal Investments LLC now owns 28,917 shares of the software maker’s stock worth $342,000 after acquiring an additional 1,278 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Magic Software Enterprises by 2,254.6% in the 2nd quarter. Acadian Asset Management LLC now owns 68,447 shares of the software maker’s stock valued at $653,000 after purchasing an additional 65,540 shares in the last quarter. Institutional investors and hedge funds own 24.70% of the company’s stock.

Magic Software Enterprises Company Profile

Magic Software Enterprises Ltd. provides proprietary application development, vertical software solutions, business process integration, information technologies (IT) outsourcing software services, and cloud-based services in Israel and internationally. Its Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.