Unterberg Capital LLC acquired a new stake in Magic Software Enterprises Ltd (NASDAQ:MGIC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 37,600 shares of the software maker’s stock, valued at approximately $315,000. Unterberg Capital LLC owned about 0.08% of Magic Software Enterprises at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in Magic Software Enterprises in the second quarter valued at approximately $544,000. Dimensional Fund Advisors LP grew its holdings in Magic Software Enterprises by 11.2% in the second quarter. Dimensional Fund Advisors LP now owns 19,858 shares of the software maker’s stock valued at $158,000 after purchasing an additional 2,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its holdings in Magic Software Enterprises by 12.5% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,202,004 shares of the software maker’s stock valued at $10,457,000 after purchasing an additional 134,013 shares during the period. Macquarie Group Ltd. purchased a new stake in Magic Software Enterprises in the third quarter valued at approximately $518,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Magic Software Enterprises by 0.9% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,196,982 shares of the software maker’s stock valued at $10,414,000 after purchasing an additional 10,962 shares during the period. 10.03% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on MGIC shares. HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the company a “buy” rating in a report on Monday, November 20th. Barclays restated a “buy” rating and issued a $10.50 target price on shares of Magic Software Enterprises in a report on Thursday, November 16th. Zacks Investment Research upgraded shares of Magic Software Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, January 17th. Finally, BidaskClub downgraded shares of Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.81.
Shares of Magic Software Enterprises Ltd (NASDAQ:MGIC) opened at $8.45 on Tuesday. The stock has a market cap of $375.93, a P/E ratio of 31.30 and a beta of 0.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.45 and a current ratio of 3.45. Magic Software Enterprises Ltd has a 52 week low of $7.35 and a 52 week high of $9.50.
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About Magic Software Enterprises
Magic Software Enterprises Ltd. is a provider of application development, business process integration platforms, vertical software solutions and related professional services. The Company is a vendor of information technology (IT) outsourcing services. Its software technology is used by customers to develop, deploy and integrate on premise, mobile and cloud-based business.
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