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

Magic Software Enterprises Ltd. (NASDAQ:MGIC) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 25,100 shares, a decline of 38.9% from the December 31st total of 41,100 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 43,400 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MGIC. Inspire Investing LLC acquired a new stake in shares of Magic Software Enterprises during the 3rd quarter valued at $880,000. Assenagon Asset Management S.A. acquired a new stake in Magic Software Enterprises during the third quarter valued at $1,675,000. Barclays PLC grew its stake in Magic Software Enterprises by 4,274.4% in the third quarter. Barclays PLC now owns 5,818 shares of the software maker’s stock valued at $69,000 after purchasing an additional 5,685 shares in the last quarter. JPMorgan Chase & Co. increased its position in Magic Software Enterprises by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 93,166 shares of the software maker’s stock worth $1,101,000 after purchasing an additional 40,642 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Magic Software Enterprises by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 228,551 shares of the software maker’s stock worth $2,201,000 after purchasing an additional 29,635 shares in the last quarter. 24.70% of the stock is owned by hedge funds and other institutional investors.

Magic Software Enterprises Trading Up 2.8 %

Shares of Magic Software Enterprises stock traded up $0.35 on Wednesday, reaching $12.82. 48,318 shares of the company were exchanged, compared to its average volume of 43,619. Magic Software Enterprises has a fifty-two week low of $9.51 and a fifty-two week high of $13.40. The firm has a market capitalization of $629.46 million, a price-to-earnings ratio of 18.31 and a beta of 1.10. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $12.09 and a 200-day moving average price of $11.41.

Magic Software Enterprises Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 23rd were paid a dividend of $0.236 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Magic Software Enterprises’s previous semi-annual dividend of $0.20. This represents a yield of 3.7%. Magic Software Enterprises’s dividend payout ratio is currently 67.14%.

Wall Street Analyst Weigh In

MGIC has been the topic of several research analyst reports. Barclays raised their target price on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. StockNews.com raised Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 22nd.

About Magic Software Enterprises

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.