Inspire Investing LLC acquired a new stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,435 shares of the software maker's stock, valued at approximately $880,000. Inspire Investing LLC owned 0.15% of Magic Software Enterprises at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Magic Software Enterprises by 14.9% during the second 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 during the period. Y.D. More Investments Ltd purchased a new position in Magic Software Enterprises in the 2nd quarter valued at approximately $1,451,000. Acadian Asset Management LLC raised its holdings in Magic Software Enterprises by 2,254.6% during 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 period. Quadrature Capital Ltd purchased a new stake in shares of Magic Software Enterprises during the first quarter worth $593,000. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Magic Software Enterprises by 722.2% in 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 during the period. 24.70% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:MGIC opened at $11.12 on Tuesday. The firm has a market capitalization of $545.98 million, a price-to-earnings ratio of 15.22 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. The stock has a fifty day moving average of $10.93 and a 200 day moving average of $11.06. Magic Software Enterprises Ltd. has a 52-week low of $8.15 and a 52-week high of $12.99.
Magic Software Enterprises (NASDAQ:MGIC - Get Free Report) last announced its earnings results on Wednesday, August 14th. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $136.25 million during the quarter, compared to analyst estimates of $132.10 million. Magic Software Enterprises had a net margin of 6.41% and a return on equity of 15.63%. During the same period in the previous year, the business posted $0.28 earnings per share. On average, research analysts expect that Magic Software Enterprises Ltd. will post 0.95 EPS for the current fiscal year.
Separately, StockNews.com raised Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a report on Wednesday, August 21st.
View Our Latest Analysis on 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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