Jane Street Group LLC Sells 14,885 Shares of Magic Software Enterprises Ltd. (NASDAQ:MGIC)

Jane Street Group LLC cut its holdings in Magic Software Enterprises Ltd. (NASDAQ:MGIC) by 51.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,038 shares of the software maker’s stock after selling 14,885 shares during the quarter. Jane Street Group LLC’s holdings in Magic Software Enterprises were worth $166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Magic Software Enterprises by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 228,551 shares of the software maker’s stock valued at $2,201,000 after buying an additional 29,635 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Magic Software Enterprises during the 3rd quarter valued at $1,675,000. Inspire Investing LLC purchased a new stake in Magic Software Enterprises during the 3rd quarter valued at $880,000. Acadian Asset Management LLC increased its stake 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 worth $653,000 after purchasing an additional 65,540 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in shares of Magic Software Enterprises in the 3rd quarter worth $47,000. 24.70% of the stock is owned by institutional investors.

Magic Software Enterprises Stock Up 3.5 %

Shares of NASDAQ:MGIC opened at $11.85 on Tuesday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.13. Magic Software Enterprises Ltd. has a 12 month low of $9.51 and a 12 month high of $13.40. The company has a 50-day moving average price of $11.75 and a 200 day moving average price of $11.23. The company has a market cap of $581.82 million, a price-to-earnings ratio of 16.93 and a beta of 1.10.

Magic Software Enterprises Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 23rd were given a $0.236 dividend. This is a positive change from Magic Software Enterprises’s previous semi-annual dividend of $0.20. This represents a yield of 3.7%. The ex-dividend date was Monday, December 23rd. Magic Software Enterprises’s dividend payout ratio is 67.14%.

Analyst Ratings Changes

MGIC has been the subject of several analyst reports. StockNews.com upgraded Magic Software Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 22nd. Barclays increased their price objective on shares of Magic Software Enterprises from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th.

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.