Monotype Imaging (TYPE) Downgraded by BidaskClub to Sell

Monotype Imaging (NASDAQ:TYPE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. downgraded shares of Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 target price on the stock. in a report on Tuesday, December 12th. 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 report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Monotype Imaging presently has a consensus rating of “Hold” and a consensus target price of $23.17.

Shares of Monotype Imaging (NASDAQ:TYPE) remained flat at $$24.45 on Friday. The company’s stock had a trading volume of 133,062 shares, compared to its average volume of 180,429. The stock has a market cap of $1,020.00, a P/E ratio of 128.68, a P/E/G ratio of 3.62 and a beta of 1.01. Monotype Imaging has a 52-week low of $15.75 and a 52-week high of $25.77. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.30.

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

In other Monotype Imaging news, CAO Janet M. Dunlap sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the sale, the chief accounting officer now directly owns 90,008 shares in the company, valued at approximately $2,250,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Janet M. Dunlap sold 8,063 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was 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 owns 92,913 shares in the company, valued at $2,322,825. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. grew its position in Monotype Imaging by 2.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,514 shares of the software maker’s stock worth $101,000 after purchasing an additional 131 shares during the last quarter. Advisor Group Inc. grew its position in Monotype Imaging by 85.7% in the 2nd quarter. Advisor Group Inc. now owns 6,981 shares of the software maker’s stock worth $127,000 after purchasing an additional 3,222 shares during the last quarter. Menta Capital LLC acquired a new stake in Monotype Imaging in the 2nd quarter worth $197,000. First Manhattan Co. grew its position in Monotype Imaging by 30.0% in the 4th quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock worth $313,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Monotype Imaging by 58.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,700 shares of the software maker’s stock worth $302,000 after purchasing an additional 5,810 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

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About Monotype Imaging

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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