Monotype Imaging Holdings Inc. (TYPE) Receives Buy Rating from B. Riley
Monotype Imaging Holdings Inc. (NASDAQ:TYPE)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a report released on Tuesday. They presently have a $24.00 price target on the stock. B. Riley’s price objective would suggest a potential upside of 12.94% from the stock’s current price.
Separately, Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.80.
Shares of Monotype Imaging Holdings (NASDAQ:TYPE) traded down 0.38% during mid-day trading on Tuesday, hitting $21.25. The stock had a trading volume of 186,367 shares. The firm has a market cap of $836.76 million, a PE ratio of 34.55 and a beta of 0.90. The stock’s 50-day moving average price is $21.23 and its 200-day moving average price is $22.51. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76.
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Monotype Imaging Holdings (NASDAQ:TYPE) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $48.98 million. During the same quarter in the previous year, the business earned $0.24 EPS. Monotype Imaging Holdings’s revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Monotype Imaging Holdings will post $0.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Monday, October 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.44 annualized dividend and a yield of 2.07%. Monotype Imaging Holdings’s payout ratio is 72.13%.
In other news, COO Scott E. Landers acquired 3,285 shares of the business’s stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $20.42 per share, with a total value of $67,079.70. Following the transaction, the chief operating officer now owns 159,725 shares in the company, valued at approximately $3,261,584.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Douglas J. Shaw sold 25,000 shares of Monotype Imaging Holdings stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $20.88, for a total value of $522,000.00. Following the sale, the director now directly owns 119,897 shares in the company, valued at $2,503,449.36. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TYPE. Tygh Capital Management Inc. purchased a new stake in Monotype Imaging Holdings during the fourth quarter valued at $3,527,000. New York State Common Retirement Fund boosted its stake in shares of Monotype Imaging Holdings by 3.6% in the fourth quarter. New York State Common Retirement Fund now owns 43,175 shares of the company’s stock worth $1,021,000 after buying an additional 1,500 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Monotype Imaging Holdings by 4.3% in the fourth quarter. Copeland Capital Management LLC now owns 517,752 shares of the company’s stock worth $12,240,000 after buying an additional 21,412 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Monotype Imaging Holdings by 5.9% in the fourth quarter. Rhumbline Advisers now owns 86,089 shares of the company’s stock worth $2,035,000 after buying an additional 4,815 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Monotype Imaging Holdings by 215.2% in the fourth quarter. Sei Investments Co. now owns 78,827 shares of the company’s stock worth $1,863,000 after buying an additional 53,822 shares in the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.
Monotype Imaging Holdings Company Profile
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company’s business segment operates through development, marketing and licensing of technologies and fonts. Its business includes Creative Professional and original equipment manufacturer (OEM).
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