Monotype Imaging Holdings Inc. (NASDAQ:TYPE) was the target of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 990,455 shares, a decline of 24.2% from the May 15th total of 1,306,309 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 126,204 shares, the days-to-cover ratio is currently 7.8 days.

Shares of Monotype Imaging Holdings (NASDAQ TYPE) opened at 19.05 on Wednesday. The stock has a market cap of $752.02 million, a PE ratio of 94.78 and a beta of 1.02. Monotype Imaging Holdings has a one year low of $17.31 and a one year high of $25.37. The stock’s 50 day moving average price is $19.43 and its 200-day moving average price is $20.28.

Monotype Imaging Holdings (NASDAQ:TYPE) last issued its earnings results on Friday, April 28th. The software maker reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Monotype Imaging Holdings had a return on equity of 5.66% and a net margin of 4.00%. The company had revenue of $52.50 million for the quarter, compared to analyst estimates of $53.95 million. During the same period in the prior year, the firm posted $0.24 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that Monotype Imaging Holdings will post $0.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Monday, July 3rd will be given a $0.113 dividend. This represents a $0.45 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, June 29th. Monotype Imaging Holdings’s payout ratio is currently 225.01%.

TYPE has been the subject of a number of research reports. Zacks Investment Research cut Monotype Imaging Holdings from a “hold” rating to a “sell” rating in a report on Saturday, February 25th. B. Riley cut Monotype Imaging Holdings from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a report on Monday, May 1st.

A number of hedge funds and other institutional investors have recently modified their holdings of TYPE. Comerica Bank raised its position in shares of Monotype Imaging Holdings by 6.0% in the fourth quarter. Comerica Bank now owns 45,274 shares of the software maker’s stock valued at $971,000 after buying an additional 2,550 shares during the last quarter. State Street Corp raised its position in shares of Monotype Imaging Holdings by 10.4% in the fourth quarter. State Street Corp now owns 1,041,374 shares of the software maker’s stock valued at $20,675,000 after buying an additional 98,446 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Monotype Imaging Holdings by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,348,052 shares of the software maker’s stock valued at $26,759,000 after buying an additional 29,089 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Monotype Imaging Holdings by 12.1% in the fourth quarter. Martingale Asset Management L P now owns 88,514 shares of the software maker’s stock valued at $1,758,000 after buying an additional 9,589 shares during the last quarter. Finally, FMR LLC raised its position in shares of Monotype Imaging Holdings by 38.9% in the fourth quarter. FMR LLC now owns 1,546,800 shares of the software maker’s stock valued at $30,704,000 after buying an additional 433,075 shares during the last quarter. 91.67% of the stock is currently owned by institutional investors.

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About Monotype Imaging Holdings

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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