B. Riley Raises Monotype Imaging Holdings Inc. (TYPE) Price Target to $24.50
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) had its price target raised by B. Riley from $20.00 to $24.50 in a report issued on Wednesday. They currently have a neutral rating on the software maker’s stock.
Several other equities analysts have also recently weighed in on TYPE. Zacks Investment Research cut shares of Monotype Imaging Holdings from a buy rating to a hold rating in a research note on Wednesday, August 23rd. ValuEngine upgraded shares of Monotype Imaging Holdings from a sell rating to a hold rating in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded shares of Monotype Imaging Holdings from a sell rating to a hold rating in a research note on Monday, July 24th. Five analysts have rated the stock with a hold rating, Monotype Imaging Holdings currently has an average rating of Hold and an average target price of $22.75.
Shares of Monotype Imaging Holdings (TYPE) traded up $0.15 during mid-day trading on Wednesday, hitting $23.45. The stock had a trading volume of 472,102 shares, compared to its average volume of 500,924. The company has a current ratio of 2.43, a quick ratio of 2.63 and a debt-to-equity ratio of 0.30. The firm has a market cap of $978.67 million, a P/E ratio of 123.68, a price-to-earnings-growth ratio of 6.03 and a beta of 0.98. Monotype Imaging Holdings has a twelve month low of $15.75 and a twelve month high of $24.45.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.03 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Monotype Imaging Holdings had a net margin of 0.06% and a return on equity of 2.47%. The firm had revenue of $60.50 million for the quarter, compared to analysts’ expectations of $59.35 million. During the same quarter in the prior year, the business earned $0.18 EPS. The business’s quarterly revenue was up 15.9% on a year-over-year basis. research analysts forecast that Monotype Imaging Holdings will post 0.26 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Tuesday, January 2nd will be paid a $0.113 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, December 29th.
In other news, Director Roger J. Heinen, Jr. sold 1,500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $18.25, for a total value of $27,375.00. Following the transaction, the director now owns 26,140 shares in the company, valued at approximately $477,055. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Monotype Imaging Holdings by 0.6% during the 2nd quarter. BlackRock Inc. now owns 4,945,729 shares of the software maker’s stock worth $90,506,000 after acquiring an additional 28,680 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Monotype Imaging Holdings by 3.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,231,349 shares of the software maker’s stock worth $77,434,000 after acquiring an additional 148,585 shares during the period. Vanguard Group Inc. raised its stake in Monotype Imaging Holdings by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,758,278 shares of the software maker’s stock worth $68,777,000 after acquiring an additional 74,910 shares during the period. Trigran Investments Inc. raised its stake in Monotype Imaging Holdings by 33.0% during the 2nd quarter. Trigran Investments Inc. now owns 1,848,349 shares of the software maker’s stock worth $33,825,000 after acquiring an additional 459,025 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Monotype Imaging Holdings by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,416,107 shares of the software maker’s stock worth $25,915,000 after acquiring an additional 17,262 shares during the period. Institutional investors own 90.41% of the company’s stock.
Monotype Imaging Holdings 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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