Harel Insurance Amends Formula Systems Stake (SC 13G/A)
Ticker: FORTY · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 1045986
| Field | Detail |
|---|---|
| Company | Formula Systems (1985) Ltd (FORTY) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, form-13g, shareholder-update
TL;DR
**Harel Insurance updated its stake in Formula Systems; watch for market reaction.**
AI Summary
Harel Insurance Investments & Financial Services Ltd. filed an amended Schedule 13G/A on January 30, 2024, indicating a change in their beneficial ownership of Formula Systems (1985) Ltd. American Depositary Shares as of December 31, 2023. This amendment, number 6, updates their previous holdings. This matters to investors because Harel is a significant institutional investor, and changes in their stake can signal their confidence (or lack thereof) in Formula Systems' future performance, potentially influencing other investors' decisions.
Why It Matters
Changes in major institutional holdings can signal shifts in investor confidence, potentially impacting stock price and market sentiment for Formula Systems (1985) Ltd.
Risk Assessment
Risk Level: low — This filing is a routine update of an institutional investor's holdings and does not inherently indicate high risk.
Analyst Insight
Investors should monitor the full SC 13G/A filing (which is not fully provided here) to understand the exact change in Harel Insurance's beneficial ownership percentage and share count. This information can then be used to assess the institutional sentiment towards Formula Systems (1985) Ltd. and potentially inform their own investment decisions.
Key Players & Entities
- Harel Insurance Investments & Financial Services Ltd. (company) — the reporting person filing the amendment
- Formula Systems (1985) Ltd. (company) — the issuer of the securities
- December 31, 2023 (date) — the date of the event requiring the filing
- January 30, 2024 (date) — the filing date of the SC 13G/A
- 346414105 (number) — the CUSIP number for Formula Systems' American Depositary Shares
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, filed under Rule 13d-1(c) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is Harel Insurance Investments & Financial Services Ltd., with Central Index Key (CIK) 0001429390.
Which company's securities are being reported on?
The securities are those of Formula Systems (1985) Ltd., specifically American Depositary Shares, each representing one Ordinary Share, NIS 1 par value.
What is the CUSIP number for the securities mentioned in the filing?
The CUSIP number for the American Depositary Shares of Formula Systems (1985) Ltd. is 346414105.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023.
Filing Stats: 891 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-01-30 08:14:07
Filing Documents
- zk2430844.htm (SC 13G/A) — 44KB
- 0001178913-24-000299.txt ( ) — 46KB
Notice of Dissolution of Group
Item 9. Notice of Dissolution of Group Not Applicable.
Certification
Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. - 4 -
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 30, 2024 HAREL INSURANCE INVESTMENTS AND FINANCIAL SERVICES LTD. BY: /s/ Uri Rabinovitz Name, Title: Uri Rabinovitz, Vice President - 5 -