Naples Global Advisors LLC lowered its stake in shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC - Free Report) by 13.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 143,330 shares of the software maker's stock after selling 23,131 shares during the period. Naples Global Advisors LLC owned approximately 0.29% of Magic Software Enterprises worth $1,757,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in MGIC. Copeland Capital Management LLC purchased a new stake in Magic Software Enterprises during the third quarter valued at approximately $47,000. Assenagon Asset Management S.A. purchased a new stake in shares of Magic Software Enterprises in the 3rd quarter worth $1,675,000. Public Employees Retirement System of Ohio purchased a new position in Magic Software Enterprises during the third quarter valued at $115,000. Barclays PLC lifted its position in Magic Software Enterprises by 4,274.4% during 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. Finally, Tidal Investments LLC grew its stake in shares of Magic Software Enterprises by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 28,917 shares of the software maker's stock valued at $342,000 after acquiring an additional 1,278 shares during the period. Hedge funds and other institutional investors own 24.70% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on MGIC shares. StockNews.com upgraded shares of Magic Software Enterprises from a "buy" rating to a "strong-buy" rating in a research note on Sunday, December 22nd. Barclays lifted 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.
View Our Latest Report on MGIC
Magic Software Enterprises Price Performance
Shares of Magic Software Enterprises stock traded down $0.02 on Monday, hitting $12.79. 32,297 shares of the company traded hands, compared to its average volume of 45,871. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.76 and a current ratio of 1.76. The business has a 50-day simple moving average of $12.40 and a 200 day simple moving average of $11.57. Magic Software Enterprises Ltd. has a 52 week low of $9.51 and a 52 week high of $13.46. The stock has a market capitalization of $627.99 million, a P/E ratio of 18.27 and a beta of 1.11.
Magic Software Enterprises Profile
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Free Report)
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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