Monotype Imaging (NASDAQ:TYPE) was downgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $24.00 price objective on the software maker’s stock. J P Morgan Chase & Co’s price objective points to a potential downside of 0.21% from the company’s previous close.

A number of other equities analysts also recently commented on TYPE. Zacks Investment Research raised shares of Monotype Imaging from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Monday, August 21st. ValuEngine raised shares of Monotype Imaging from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, B. Riley lifted their target price on shares of Monotype Imaging from $20.00 to $24.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Monotype Imaging currently has a consensus rating of “Hold” and an average price target of $23.17.

Shares of Monotype Imaging (TYPE) traded up $0.55 during mid-day trading on Tuesday, reaching $24.05. 777,018 shares of the company’s stock were exchanged, compared to its average volume of 208,639. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. Monotype Imaging has a one year low of $15.75 and a one year high of $25.77. The stock has a market capitalization of $1,003.70, a P/E ratio of 126.58, a PEG ratio of 8.02 and a beta of 1.00.

Monotype Imaging (NASDAQ:TYPE) last issued its earnings results on Tuesday, October 31st. The software maker reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Monotype Imaging had a net margin of 0.06% and a return on equity of 2.47%. The company had revenue of $60.50 million for the quarter, compared to the consensus estimate of $59.35 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Monotype Imaging’s quarterly revenue was up 15.9% compared to the same quarter last year. analysts anticipate that Monotype Imaging will post 0.2 earnings per share for the current fiscal year.

In other Monotype Imaging news, VP Janet M. Dunlap sold 8,063 shares of Monotype Imaging stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $25.00, for a total transaction of $201,575.00. Following the completion of the sale, the vice president now directly owns 92,913 shares in the company, valued at $2,322,825. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Monotype Imaging by 0.6% during the second quarter. BlackRock Inc. now owns 4,945,729 shares of the software maker’s stock valued at $90,506,000 after acquiring an additional 28,680 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Monotype Imaging by 3.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,231,349 shares of the software maker’s stock valued at $77,434,000 after acquiring an additional 148,585 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Monotype Imaging by 2.0% during the second quarter. Vanguard Group Inc. now owns 3,758,278 shares of the software maker’s stock valued at $68,777,000 after acquiring an additional 74,910 shares during the last quarter. Trigran Investments Inc. increased its position in shares of Monotype Imaging by 23.5% during the third quarter. Trigran Investments Inc. now owns 2,283,331 shares of the software maker’s stock valued at $43,954,000 after acquiring an additional 434,982 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Monotype Imaging by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,429,976 shares of the software maker’s stock valued at $27,527,000 after acquiring an additional 13,869 shares during the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.

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Monotype Imaging Company Profile

Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).

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