Renaissance Technologies LLC lessened its holdings in Magic Software Enterprises Ltd. (NASDAQ:MGIC – Free Report) by 1.2% in the second quarter, Holdings Channel reports. The firm owned 398,312 shares of the software maker’s stock after selling 4,752 shares during the period. Renaissance Technologies LLC’s holdings in Magic Software Enterprises were worth $3,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in MGIC. Wellington Management Group LLP increased its holdings in shares of Magic Software Enterprises by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 683,357 shares of the software maker’s stock worth $6,622,000 after purchasing an additional 11,010 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Magic Software Enterprises by 722.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,334 shares of the software maker’s stock worth $177,000 after acquiring an additional 13,469 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Magic Software Enterprises in the 1st quarter worth $593,000. Acadian Asset Management LLC lifted its position in Magic Software Enterprises by 2,254.6% in the second 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 during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in Magic Software Enterprises during the 2nd quarter valued at $1,451,000. Institutional investors own 24.70% of the company’s stock.
Magic Software Enterprises Trading Down 0.3 %
Shares of MGIC stock opened at $11.88 on Friday. The stock has a fifty day simple moving average of $10.89 and a two-hundred day simple moving average of $11.10. Magic Software Enterprises Ltd. has a 52-week low of $8.15 and a 52-week high of $12.99. The firm has a market capitalization of $583.30 million, a PE ratio of 16.27 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 1.66.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st.
View Our Latest Stock Report on Magic Software Enterprises
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.
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