Magic Software Enterprises Ltd.(NASDAQ:MGIC) Shares Sold by ETF Managers Group LLC Posted by Stuart Ham
ETF Managers Group LLC cut its holdings in Magic Software Enterprises Ltd.(NASDAQ:MGIC) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC.The firm owned 45,000 shares of the software maker’s stock after selling 9,407 shares during the quarter.ETF Managers Group LLC owned about 0.09% of Magic Software Enterprises worth $722,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business.Morgan Stanley increased its stake in shares of Magic Software Enterprises by 265.7% during the third quarter.Morgan Stanley now owns 3,584 shares of the software maker’s stock worth $47,000 after acquiring an additional 2,604 shares during the period.
BlackRock Inc.increased its stake in shares of Magic Software Enterprises by 25.5% during the third quarter.BlackRock Inc.
now owns 16,315 shares of the software maker’s stock worth $214,000 after acquiring an additional 3,318 shares during the period.Ritholtz Wealth Management increased its stake in shares of Magic Software Enterprises by 31.6% during the fourth quarter.Ritholtz Wealth Management now owns 14,816 shares of the software maker’s stock worth $232,000 after acquiring an additional 3,554 shares during the period.Credit Suisse AG acquired a new position in shares of Magic Software Enterprises during the fourth quarter worth about $267,000.
Finally, Sawtooth Solutions LLC increased its stake in shares of Magic Software Enterprises by 4.7% during the fourth quarter.Sawtooth Solutions LLC now owns 17,293 shares of the software maker’s stock worth $271,000 after acquiring an additional 783 shares during the period.
Institutional investors own 17.78% of the company’s stock.Get Magic Software Enterprises alerts:
A number of research analysts have recently issued reports on the stock.Zacks Investment Research upgraded shares of Magic Software Enterprises from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, March 10th.HC Wainwright upped their target price on shares of Magic Software Enterprises from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, March 15th.Shares of MGIC opened at $15.83 on Friday.
The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.07.The firm’s 50-day moving average is $16.65 and its two-hundred day moving average is $15.13.Magic Software Enterprises Ltd.
has a twelve month low of $7.48 and a twelve month high of $18.35.The firm has a market capitalization of $774.70 million, a P/E ratio of 45.23 and a beta of 1.29.
Magic Software Enterprises (NASDAQ:MGIC) last issued its earnings results on Sunday, March 7th.The software maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02.Magic Software Enterprises had a net margin of 4.85% and a return on equity of 12.69%.The company had revenue of $104.57 million for the quarter, compared to analyst estimates of $94.65 million.Analysts predict that Magic Software Enterprises Ltd.will post 0.74 EPS for the current year.
The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, April 7th.Shareholders of record on Thursday, March 25th will be issued a $0.21 dividend.
This represents a dividend yield of 2.5%.The ex-dividend date is Wednesday, March 24th.This is an increase from Magic Software Enterprises’s previous Semi-Annual dividend of $0.18.
Magic Software Enterprises’s dividend payout ratio is 60.34%.
About Magic Software Enterprises
Magic Software Enterprises Ltd.provides proprietary application development, business process integration, vertical software solutions, and information technologies (IT) outsourcing software services in Israel and internationally.The company’s Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services.
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