Unterberg Capital LLC purchased a new stake in Magic Software Enterprises Ltd (NASDAQ:MGIC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 37,600 shares of the software maker’s stock, valued at approximately $315,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 acquiring an additional 2,000 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Magic Software Enterprises in the third quarter valued at $518,000. Bank of New York Mellon Corp acquired a new stake in Magic Software Enterprises in the second quarter valued at $544,000. Naples Global Advisors LLC acquired a new stake in Magic Software Enterprises in the fourth quarter valued at $560,000. Finally, Clal Insurance Enterprises Holdings Ltd raised 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 acquiring an additional 10,962 shares in the last quarter. 10.03% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on MGIC shares. Zacks Investment Research cut shares of Magic Software Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. HC Wainwright set a $10.00 price target on shares of Magic Software Enterprises and gave the company a “buy” rating in a report on Monday, November 20th. BidaskClub cut shares of Magic Software Enterprises from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 23rd. Finally, Barclays reissued a “buy” rating and set a $10.50 target price on shares of Magic Software Enterprises in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.81.
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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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