Monotype Imaging Holdings’ (TYPE) “Buy” Rating Reaffirmed at B. Riley
Monotype Imaging Holdings Inc. (NASDAQ:TYPE)‘s stock had its “buy” rating restated by research analysts at B. Riley in a note issued to investors on Sunday. They presently have a $24.00 target price on the stock. B. Riley’s price target would suggest a potential upside of 12.94% from the stock’s current price.
Separately, Zacks Investment Research raised shares of Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.25 on Friday. The firm has a market capitalization of $836.76 million, a P/E ratio of 34.55 and a beta of 0.90. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76. The firm’s 50-day moving average is $21.23 and its 200 day moving average is $22.51.
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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 for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $48.98 million. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Equities analysts anticipate that Monotype Imaging Holdings will post $0.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be given a $0.11 dividend. 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 dividend payout ratio is currently 72.13%.
In related news, COO Scott E. Landers acquired 3,285 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,261,584.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Shaw sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $20.88, for a total transaction of $522,000.00. Following the completion of 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. 2.30% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new stake in shares of Monotype Imaging Holdings during the second quarter valued at about $196,000. Royal Bank of Canada raised its stake in shares of Monotype Imaging Holdings by 3.7% in the second quarter. Royal Bank of Canada now owns 53,785 shares of the company’s stock valued at $1,323,000 after buying an additional 1,898 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Monotype Imaging Holdings by 1.9% in the second quarter. Sterling Capital Management LLC now owns 65,531 shares of the company’s stock valued at $1,614,000 after buying an additional 1,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Monotype Imaging Holdings by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 136,336 shares of the company’s stock valued at $3,358,000 after buying an additional 2,376 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Monotype Imaging Holdings by 14.9% in the second quarter. Stifel Financial Corp now owns 53,448 shares of the company’s stock valued at $1,317,000 after buying an additional 6,933 shares during the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.
About Monotype Imaging Holdings
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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