Dimensional Fund Advisors LP grew its holdings in Magic Software Enterprises Ltd. (NASDAQ:MGIC – Free Report) by 14.9% during the 2nd quarter, Holdings Channel reports. The fund owned 228,551 shares of the software maker’s stock after purchasing an additional 29,635 shares during the period. Dimensional Fund Advisors LP’s holdings in Magic Software Enterprises were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the business. Y.D. More Investments Ltd purchased a new stake in shares of Magic Software Enterprises in the 2nd quarter valued at $1,451,000. Acadian Asset Management LLC boosted its holdings in shares of 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 acquiring an additional 65,540 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Magic Software Enterprises in the 1st quarter valued at $593,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Magic Software Enterprises by 722.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,334 shares of the software maker’s stock valued at $177,000 after acquiring an additional 13,469 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Magic Software Enterprises by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 683,357 shares of the software maker’s stock valued at $6,622,000 after acquiring an additional 11,010 shares during the last quarter. 24.70% of the stock is owned by hedge funds and other institutional investors.
Magic Software Enterprises Stock Performance
Shares of NASDAQ MGIC opened at $11.21 on Friday. The company’s fifty day moving average price is $10.91 and its 200 day moving average price is $11.08. Magic Software Enterprises Ltd. has a 1 year low of $8.15 and a 1 year high of $12.99. The company has a market capitalization of $550.40 million, a PE ratio of 15.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.66 and a current ratio of 1.66.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 21st.
Read Our Latest Stock Analysis on Magic Software Enterprises
Magic Software Enterprises 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.
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