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Adding to the (possible?) mixup is the
similar price of them both, and the fact
the other mgic is much more heavily traded
than (our) MGIC, hence a couple hundred
thousand shares mistaken can be the trigger.
The dividend, i fully agree has no impact in
the last 2 day rally.
Finally, the best indication is the MGIC.TA
pps which has also increased, so there is
some other reason for the spike.
Perhaps a combination of 3, namely 1/upgrade
2/mixup 3/behind the scene activity, soon to
become public info!
Wait and see! any pregnancy cannot be held secret
for too long!!!
Midas...I've seen them get the two companies mixed up before. I even saw an analyst sometime in 2012 on TV explain that investors sometimes get the two companies mixed up and they trade on the wrong ticker symbol. However, I think it was the recent upgrade to 'overweight' that is pushing this stock for the moment. The 3/14 dividend can't be a force because they went ex-div somewhere around 2/25.
I HOPE that there is no mistake:
(2 different entities!!!)
Mortgage Insurers:
Hitting a new 52-week high yesterday was MGIC Investment Corporation (MGIC) which saw shares finish the day at $5.61/share after rising as high as $6.19/share earlier in the day. Volume was extremely high with 117.2 million shares being traded as the entire sector rallies. The company announced after the close that they priced the 135 million share offering at $5.15/share and that underwriters have 30-days to purchase up to 20.25 million more shares at the same price for any overallotments. In a concurrent debt deal MGIC said that they priced $450 million senior notes due in 2020 with a 2% rate and underwriters could purchase an addition $50 million in overallotments for this offering. Readers can find the press release with all this information and more here. The company is increasing liquidity and the industry does appear to have turned a corner, so the question is how much longer investors must wait for the "good 'ole days" to return but with the issues at the Federal Housing Authority, or FHA, it does appear that it could be sooner rather than later.
http://seekingalpha.com/article/1254741-today-s-market-news-to-trade-on-5-stocks-moving-on-news?source=yahoo
Even in the prefix in the article itself it says
Magic Software Enterprises Ltd. (MGIC)
No mixup i hope!???
Extraordinary action! Lively volume,
nice price action, second day in a row!!
Seems that MGIC got noticed big time!!!
Nice price impact!!!
On The Fly: Analyst Upgrade Summary 3/5/13
MGIC upgraded to overweight from underweight....
Today's noteworthy upgrades include: Apollo Group (APOL) upgraded to Hold from Sell at Deutsche Bank... EV Energy (EVEP) upgraded to Outperform from Neutral at Credit Suisse... MGIC Investment (MTG) upgraded to Overweight from Underweight at Barclays... MicroStrategy (MSTR) upgraded to Outperform from Market Perform at FBR Capital... PT Indosat (IIT) upgraded to Neutral from Sell at Citigroup... Radian Group (RDN) upgraded to Overweight from Underweight at Barclays... Seadrill (SDRL) upgraded to Overweight from Neutral at HSBC... Cree (CREE) upgraded to Outperform from Underperform at CLSA... Hess Corp. (HES) upgraded to Buy from Neutral at ISI Group... Stratasys (SSYS) upgraded to Buy from Hold at Needham... Yahoo! (YHOO) upgraded to Buy from Hold at Cantor.
Mul-T-Lock, a Leading Global Manufacturer and Distributer of Security Solutions, Deploys Magic Integration Platform
OR YEHUDA, Israel, March 5, 2013 /PRNewswire/ --
Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that Mul-T-Lock, a leading global manufacturer and distributer of security solutions, deploys Magic xpi Integration Platform to connect its back-end business systems and improve business performance.
Magic xpi enables Mul-T-Lock to connect its core business information systems including SAP R/3, its website, and separate ordering and pricing systems to fully automate business processes and streamline workflows from the ordering stage through the manufacturing process. With continuous availability, the integrated system enables Mul-T-Lock to maintain operational efficiency 24/7 without needing scheduled downtimes. Magic also provided professional consulting services for the project implementation along with a comprehensive multi-year maintenance and support contract.
Shira Baum, CIO at Mul-T-Lock, stated, "It was extremely critical for us to find a highly reliable and highly productive solution to integrate our key enterprise systems. We chose Magic's xpi solution because of their ability to easily connect the variety of different enterprise systems in our organization, their vast professional services expertise and comprehensive support."
Avishai Fishman, the CFO of Mul-T-Lock added, "We saw the clear financial benefits of integrating our core business systems with Magic xpi. In addition to enabling us to enforce formal work processes, automating and streamlining our business processes increases the efficiency and productivity of our business operations while maintaining the reliability and integrity of existing system data."
Yoram Aharon, CEO of Magic Israel, stated, "We look forward to extending our cooperation with Mul-T-Lock to their other branches of around the world. Magic's smart, code-free metadata approach and large library of optimized and certified connectors to leading back-end enterprise systems, such as SAP, Oracle, Salesforce.com, Microsoft, IBM, and others makes it easy to understand why Magic's xpi has been implemented Mul-T-Lock and hundreds of other organizations across the globe."
About Mul-T-Lock
Established in Israel in 1973, Mul-T-Lock® Ltd. is a worldwide leader in developing, manufacturing, marketing and distributing High Security solutions for institutional, commercial, industrial, residential and automotive applications. Mul-T-Lock is fully owned by ASSA ABLOY, the world's leading manufacturer and supplier of locking solutions. Mul-T-Lock has built an international reputation based on unique design, quality products, adaptation to changing market needs and excellent customer service. The company has 13 branches, 20,000 service centers and over one hundred million customers in 100 countries around the world.
For more information, visit http://www.mul-t-lock.com.
About Magic Software Enterprises
Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data.
For more information, visit http://www.magicsoftware.com.
I'm afraid that you're reading into it too much. I've been holding MGIC (and averaging down) for almost a year now. On a day like today I may scale in again. I suspect that between now and midyear we'll see 6 bucks.
You take the shorterm swings too
serious my friend!!!
Well, that PR won't help the PPS. eom
MGIC Ex-Dividend Reminder - 2/21/13
DividendChannel.com, Contributor
Looking at the universe of stocks we cover at Dividend Channel, on 2/21/13, Magic Software Enterprises Ltd. (NASD: MGIC) will trade ex-dividend, for its quarterly dividend of $0.12, payable on 3/14/13. As a percentage of MGIC’s recent stock price of $4.83, this dividend works out to approximately 2.48%, so look for shares of Magic Software Enterprises Ltd. to trade 2.48% lower — all else being equal — when MGIC shares open for trading on 2/21/13.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen » or click here to find out which 9 other stocks going ex-dividend you should know about, at DividendChannel.com »
Below is a dividend history chart for MGIC, showing historical dividends prior to the most recent $0.12 declared by Magic Software Enterprises Ltd. :
In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from MGIC is likely to continue, and whether the current estimated yield of 9.94% on annualized basis is a reasonable expectation of annual yield going forward.
http://www.forbes.com/sites/dividendchannel/2013/02/19/mgic-ex-dividend-reminder-22113/?partner=yahootix
I agree with most of that. But I don't think the dividend is completely factored in yet. Buyers who get in by 2/25 stand to get a quick 5% ROR. And the PPS is rather depressed so the downside risk on equity value is rather small IMO.
I do not think the company will sell into it,
but for sure some short term holders will....
There will be a price decline, the dividend is
factored in, but imho the pps will pass the $5
mark by mid March 2013!
I think that we'll see a small PPS run up this week as we get closer to the 5% dividend eligibility date (Feb 25). Let's hope that the company doesn't sell into it. They sure do not need the cash.
OTOH=On the other hand
That makes sense being the PPS has been sortof in the tank for a while.
OTOH? What does that mean?
OTOH Penny, the short interest is the lowest
since a long period,
http://www.nasdaq.com/symbol/mgic/short-interest#.UR-a0x1kT1E
Midas, I hope you are right because thus far the PPS journey has been a down tic over the past 12 months and the dividend announcements have not really had much of an impact. I did notice that the company has really pulled back on issuing regular PRs over the past 12 months. Most likely to save on the costs.
What MGIC needs to do IMO is also focus on earnings growth. The EPS growth rate has been somewhat anemic or even negative. Many investors and institutions alike look for solid PEG ratios. I do love their new dividend policy though.
The company shot up to $ 9 due to expectations!
Once these expectations were met, naturally the
company got 'judged' as a regular company, hence
price went down to current levels.
Once (if) MGIC continues in this pace, increased
earnings, increased dividend policy and other
financial indicators, PPS will eventually return
to its previous HOD.
IMHO the companys' fair price should be in the area
of ~ $6-7.
Additional action might of course expedite the uptick
journey!!!
We'll see what happens to the PPS over the next week prior to the ex-dividend date and then after the dividend payment. I'm aware that some companies will sell shares to effectively pay for the declared dividend.
What we need here is another big gun rumored to buy out MGIC. That may give MGIC a very nice PPS lift. For the past year this PPS has drifted down and then floundered/flatlined. We needs some action. I remember owning this equity when it shot up to 9 bucks not too long ago.
I beg to differ. It is within the company policy:
my guess is that MGIC mgmt is using this new 5% dividend offer to help pump up the PPS a bit over the next week or so so that they can sell into the small pump. That may give us a small window to take some shares off the table.
New Star Analyst Rankings for Magic Software Enterprises Ltd.StarMine(Thu 9:17AM EST)
Magic Reports Record-Breaking Annual Results for 2012 with Revenues of $126.4 Million and Non-GAAP Operating Income of $18.7 ...
Today : Thursday 14 February 2013
Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC), a global provider of mobile and cloud-enabled application and business integration platforms, announced today its financial results for the fourth quarter and full year ended December 31, 2012.
Financial Highlights for the Fourth Quarter, 2012
Revenues for the fourth quarter increased 17% year over year to $35.7 million from $30.5 million.
Non-GAAP operating income increased 13% to $5.1 million, compared to $4.5 million in the same period last year; Operating income for the fourth quarter increased 2% to $4.3 million, compared to $4.2 million in the same period last year.
Non-GAAP net income increased 9% to $5.1 million, compared to $4.7 million in the same period last year; Net income for the fourth quarter decreased 3% to $4.3 million compared to $4.4 million in the same period last year. The decrease was mainly attributable to tax expenses recorded with respect to the utilization of deferred tax assets.
Financial Highlights for the Full Year Ended December 31, 2012
Revenues for the year ended December 31, 2012, reached $126.4 million, an increase of 12%, compared to $113.3 million in 2011.
Non-GAAP operating income for the year increased 29% to $18.6 million, compared to $14.5 million in the same period last year; Operating income for the year ended December 31, 2012, increased 11% to $16.4 million compared to $14.7 million in the same period last year.
Non-GAAP net income for the year increased 24% to $18.3 million, compared to $14.8 million in the same period last year; Net income for the year ended December 31, 2012, increased 8% to $16.2 million compared to $15.0 million in the same period last year.
Total cash, cash equivalents and short-term investments as of December 31, 2012, amounted to $38.8 million, with zero debt (after a cash dividend of $3.7 million paid during the fourth quarter).
Operating cash flow for the year ended December 31, 2012 totaled $18 million.
Results
For the fourth quarter ended December 31, 2012, total revenues were $35.7 million, with net income of $4.3 million, or $0.12 per fully diluted share. This compares with revenues of $30.5 million and net income of $4.4 million, or $0.12 per fully diluted share for the same period last year.
For the fourth quarter of 2012, operating income was $4.3 million. This compares to operating income of $4.2 million for the same period a year ago.
For the year ended December 31, 2012, total revenues were $126.4 million, with net income of $16.2 million, or $0.44 per fully diluted share. This compares with revenues of $113.3 million and net income of $15.0 million, or $0.41 per fully diluted share, for the same period last year.
Operating income for the year ended December 31, 2012, was $16.4 million. This compares to operating income of $14.7 million for the same period a year ago.
Comments of Management
Guy Bernstein, Chief Executive Officer of Magic Software Enterprises, said, "2012 was an excellent year for Magic, with strong performance across our products and professional services in all regions.
"We are proud to be continuing to produce record-breaking financial results for our shareholders and that our strong cash position has enabled us to continue to make important growth investments in our product portfolio.
"We believe we are well-positioned to continue our growth track in 2013 with our powerful and versatile enterprise-grade application development and integration solutions that enable enterprise mobility, enhance productivity and increase profitability. We are further enhancing our offerings by strengthening our relationships with partners and vendors in the enterprise mobility and enterprise software ecosystems, like Samsung, SAP, Salesforce.com, Oracle JDE, IBM and Microsoft SharePoint," added Bernstein.
Non-GAAP Financial Measures
This release includes non-GAAP operating income, net income, basic and diluted earnings per share and other non-GAAP financial measures. These non-GAAP measures exclude the following items:
Amortization of purchased intangible assets
In-process research and development capitalization and amortization
Equity-based compensation expense
And the related tax effects of the above items
Magic Software's management believes that the presentation of non-GAAP measures provides useful information to investors and management regarding financial and business trends relating to the Company's financial condition and results of operations as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.
These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Magic Software believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Magic Software's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Magic Software's results of operations in conjunction with the corresponding GAAP measures.
Refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.
About Magic Software Enterprises
Magic Software Enterprises Ltd. (NASDAQ and TASE: MGIC) is a global provider of mobile and cloud-enabled application and business integration platforms.
For more information, visit http://www.magicsoftware.com/en/company/?catID=6.
Magic Declares Dividend for Second Half of 2012
OR YEHUDA, Israel, February 14, 2013 /PRNewswire/ --
Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that its Board of Directors has declared a cash dividend in the amount of US $0.12 per share and in the aggregate amount of approximately US $4.4 million for the second half of 2012.
The dividend is payable March 14, 2013 to all of the Company's shareholders of record at the close of the NASDAQ Global Select Market on February 25, 2013.
In accordance with Israeli tax law, the Company will deduct 25% of the dividend amount payable to each shareholder, subject to applicable exemptions.
The dividend will be paid in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the Tel Aviv Stock Exchange, and in US dollars on the ordinary shares of Magic Software Enterprises that are traded on the NASDAQ Global Select Market.
I'd love to see an acquisition attempt which could push the PPS to $10. Debt is almost zero with cash on hand at 38M. Nice dividend (hope it continues). 2013/2014 could get interesting.
TASE close 1665
=16.65
/3.864=
Naz close expected, $ 4.31!!!
(At any rate around this price trade today
will maintain)
GLTY
midastouch017... great posts. Thanks. Let's hope that you do indeed have the "midustouch".
2 Additional remarks:
1/In a previous message i wrote that
MGIC/Naz is the price leader.
In this specific case TASE is, as
volume in TASE is higher/bigger.
In other dual traded stocks, such
as GIVN, TEVA, the market leaded
is the Naz, due to much larger
volume.
2/There is a 30 minute overlap
in between TASE end trade and
Naz start, in order to ajust prices
of the dual traded companies, quite
many of them(eg TEVA,GIVN,MGIC,PSTI,GILT etc)
General TASE site
http://www.tase.co.il/TASEEng/General/Company/companyMainData.htm?companyID=002026&
Enter stock (MGIC)
http://www.tase.co.il/TASEEng/Management/GeneralPages/SimpleSearchResult.htm?objectId=&objectType=&securityType=&searchTerm=mgic
1680 Points = 16.80 NIS, Exchange rate $1 = NIS 3.879
16.80/3.879=$ 4.33
Questions?
------------------------------------------------
Of course we start TASE earlier tomorrow, so tomorrow will
be the best indication to see what will unfold in NASDAQ
later the day!!!
TASE is the market leader of this stock!
What site do you go to to obtain the close of TASE?
How did you convert that to the equivalent of 4.33 ?
Thanks
MGIC closed at TASE today, at the
equivalent of $ 4.33!
This will be (give or take 1-2 cents)
price close tomorrow Monday!!!
MGIC doing nicely!
just as expected!!!
Today also essentially represents an "Inside Day" (technical analysis) which means that there is some investor indecisiveness as to which way to go. The fact that the PPS finished fairly strong may be a good signal that the direction is now up. Time will tell.
Mon: TASE rally continues despite Gaza conflict
Israel Chemicals rose 1.2% on the day's biggest turnover, as energy exploration companies again rose strongly.
19 November 12 17:07, Aviv Levy
The Tel Aviv Stock Exchange (TASE) rose today. The Tel Aviv 25 Index rose 0.65% to 1,206.13 points, the Tel Aviv 100 Index rose 0.67% to 1,063.49 points, and the BlueTech 50 Index rose 0.35% to 327.32 points. Turnover was NIS 719.3 million.
The TASE rose again today on the sixth day of Operation Pillar of Cloud, in line with gains on European markets and at the opening on Wall Street.
http://www.globes.co.il/serveen/globes/docview.asp?did=1000799619&fid=4119
Go MGIC Go!!!
Magic Software Enterprises (NASDAQ: MGIC) is another company that could be considered somewhat volatile. Being based in Israel, which as a country has had a lot of economic and military issues of late, could be a mark against the company. I like how Magic has segued from being all about Unix and DOS to working with the AS/400 and then Windows, which shows a lot of adaptability. My inner dividend junkie also loves the 8.8% dividend Magic presents, although it could always be taken down. By the same token, the relatively low P/E of 10.34 and price/book of 1.5 say that Magic might be trading at a reasonable price right now. It's worth looking into how useful iBOLT and uniPaaS actually are for large organizations. I remember the inexplicable growth of Blackboard across most of the country's universities despite its mediocre user interface and ridiculously poor reliability, so it's a crap shoot.
http://beta.fool.com/pongun/2012/11/01/will-these-companies-create-next-killer-app/15517/?ticker=MGIC&source=eogyholnk0000001
In general:
TASE opens higher despite Gaza fighting
Delek Group, EZchip, and NICE led Tel Aviv 25 gains in morning trading.
18 November 12 11:49, Fadi Mualem
The Tel Aviv Stock Exchange (TASE) rose in morning trading as Operation Pillar of Cloud entered its fifth day and the possibility of a ground operation in Gaza. There are worries that Hamas's widening range of rockets may affect the TASE in the coming days, following the launch of missiles against Tel Aviv and Jerusalem.
The Tel Aviv 25 Index rose 0.55% in morning trading to 1,288 points and the Tel Aviv 100 Index rose 0.37% to 1,049 points, after both indices fell on Thursday with the outbreak of the fighting.
http://www.globes.co.il/serveen/globes/docview.asp?did=1000799067&fid=1725
Sunday is a regular trade day. Off days in Israel are Friday
& Saturday.
MGIC is a dually traded stock however the price leader is
the Nasdaq.
I am not able to quantify the new contract with BrightRock.
My estimate for the fair price MGIC should fetch at present
is ~$5. Alas, the company is smallish and is not covered by
too many analysts, to say the least.
mid.. I tend to agree. however if there is a land invasion of the Gaza Strip coupled with any outside aggression toward Israel from Egypt, i think more fear will drive the PPS further south.
What impact to you think a worse case scenario of the USA Fiscal Cliff will have on the PPS ? I just don't see much of a connection myself. But I could be overlooking something. I don't even see another downgrade of the US debt as having much impact on the PPS.
I'm also trying to figure out how large that new contract is with BrightRock (Pty) Ltd (who is underwritten by Lombard Life Limited)? That new contract should be reflected in the next quarterly earnings report. It would be nice to know how large that contract is. Any idea ?
Methinks the panic session is just about over,
volume was much more than average, myself i have
averaged down!
Time will tell!!!
GLTY
I agree. But you know how investor panic can set in. I'd average down again at these low prices, but I'm already at too much risk with this stock.
MGIC Hdq is located some 40 kms (~25 miles)
north of Tel-Aviv, less than 1% probability
of building being hit!!!
I believe that a reversal will occur sooner
than later. In the meantime enjoy the dividends.
why the drop? War! Gaza strip vs the Tel Aviv. MGIC Hdq I beleive is located just a small bit east of Tel Aviv. Investor fear IMO. Could be a great buying opportuinity if you think the bombs won't hit the MGIC HDQ building.
Another possibility is the looming new tax code for all high dividend holding investors in the US come next year. This is a high yield divy stock. Could be some selling due to this year tax savings or just the year end losses...who knows
Could see a nice bounce here in month or two. Will be watching.
Good question!!!
IMHO, underpriced, a correction is due!!!
Why the drop PPS? Good news comes out and not much volume but down nearly 5%. Unstability in the region today could be the cause and looks like a nice buy right now...anyone?
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