Zacks Investment Research downgraded shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Monotype Imaging is a global provider of text imaging solutions for manufacturers and developers of consumer electronics devices including laser printers, copiers, mobile phones, digital televisions, set-top boxes, digital cameras and software applications and operating systems. The company also provides printer drivers and color imaging technologies to OEMs. Monotype Imaging technologies are combined with access to more than nine thousand typefaces from the Monotype, Linotype and ITC typeface libraries home to some of the world’s most widely used designs, including the Times New Roman, Helvetica and ITC Franklin Gothic typefaces. Fonts are licensed to creative and business professionals through custom font designs, direct sales or e-commerce portals. Monotype Imaging offers fonts and industry-standard solutions that support all of the world’s major languages. “

Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Monotype Imaging Holdings from a sell rating to a hold rating in a research note on Monday, July 24th. B. Riley cut Monotype Imaging Holdings from a buy rating to a neutral rating and set a $21.00 price target on the stock. in a research report on Monday, May 1st.

Monotype Imaging Holdings (NASDAQ TYPE) opened at 18.70 on Tuesday. Monotype Imaging Holdings has a 1-year low of $15.75 and a 1-year high of $24.45. The firm has a market capitalization of $738.20 million, a P/E ratio of 93.03 and a beta of 0.91. The company has a 50 day moving average of $18.68 and a 200 day moving average of $19.97.

Monotype Imaging Holdings (NASDAQ:TYPE) last released its earnings results on Friday, July 28th. The software maker reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.01. The business had revenue of $58.70 million for the quarter, compared to the consensus estimate of $54.36 million. Monotype Imaging Holdings had a return on equity of 5.66% and a net margin of 4.00%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Monotype Imaging Holdings will post $0.58 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Monday, July 3rd were given a dividend of $0.113 per share. This represents a $0.45 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, June 29th. Monotype Imaging Holdings’s dividend payout ratio is presently 225.01%.

In other news, Director Roger J. Heinen, Jr. sold 1,500 shares of the company’s stock in a transaction dated Sunday, July 16th. The stock was sold at an average price of $18.05, for a total transaction of $27,075.00. Following the sale, the director now directly owns 30,640 shares in the company, valued at $553,052. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Monotype Imaging Holdings by 145,117.0% in the first quarter. BlackRock Inc. now owns 4,917,049 shares of the software maker’s stock valued at $98,833,000 after buying an additional 4,913,663 shares in the last quarter. Denver Investment Advisors LLC bought a new stake in shares of Monotype Imaging Holdings during the first quarter valued at $18,120,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Monotype Imaging Holdings by 14.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,082,764 shares of the software maker’s stock valued at $82,064,000 after buying an additional 514,219 shares in the last quarter. RGM Capital LLC boosted its stake in shares of Monotype Imaging Holdings by 19.7% in the first quarter. RGM Capital LLC now owns 2,809,116 shares of the software maker’s stock valued at $56,463,000 after buying an additional 462,836 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Monotype Imaging Holdings during the fourth quarter valued at $8,858,000. Hedge funds and other institutional investors own 91.46% of the company’s stock.

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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