Monotype Imaging Holdings Inc. (TYPE) Upgraded to Neutral by J P Morgan Chase & Co
TYPE has been the topic of a number of other research reports. B. Riley restated a buy rating and set a $24.00 target price on shares of Monotype Imaging Holdings in a research report on Tuesday, October 4th. Zacks Investment Research lowered shares of Monotype Imaging Holdings from a hold rating to a sell rating in a research report on Friday, October 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $26.50.
Monotype Imaging Holdings (NASDAQ:TYPE) traded up 0.24% during midday trading on Thursday, hitting $21.25. 99,534 shares of the company traded hands. The stock’s 50-day moving average price is $19.96 and its 200 day moving average price is $21.12. The company has a market capitalization of $849.51 million, a price-to-earnings ratio of 44.93 and a beta of 0.95. Monotype Imaging Holdings has a 12-month low of $17.31 and a 12-month high of $25.37.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its earnings results on Friday, October 28th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. Monotype Imaging Holdings had a net margin of 9.50% and a return on equity of 9.55%. The firm had revenue of $52.20 million for the quarter, compared to analyst estimates of $51.77 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Monotype Imaging Holdings will post $0.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Stockholders of record on Monday, January 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, December 28th. Monotype Imaging Holdings’s dividend payout ratio (DPR) is presently 93.62%.
In other news, Director Douglas J. Shaw sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $20.29, for a total transaction of $507,250.00. Following the completion of the sale, the director now owns 44,897 shares of the company’s stock, valued at approximately $910,960.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Monotype Imaging Holdings by 121.8% in the second quarter. BNP Paribas Arbitrage SA now owns 12,834 shares of the company’s stock worth $316,000 after buying an additional 7,048 shares during the period. Capstone Asset Management Co. increased its stake in shares of Monotype Imaging Holdings by 1.9% in the second quarter. Capstone Asset Management Co. now owns 11,963 shares of the company’s stock worth $295,000 after buying an additional 220 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Monotype Imaging Holdings by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the company’s stock worth $443,000 after buying an additional 300 shares during the period. Strs Ohio increased its stake in shares of Monotype Imaging Holdings by 1.7% in the second quarter. Strs Ohio now owns 36,100 shares of the company’s stock worth $889,000 after buying an additional 600 shares during the period. Finally, Falcon Point Capital LLC increased its stake in shares of Monotype Imaging Holdings by 1.4% in the second quarter. Falcon Point Capital LLC now owns 388,101 shares of the company’s stock worth $9,559,000 after buying an additional 5,493 shares during the period. 89.29% of the stock is owned by institutional investors.
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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