Monotype Imaging Holdings Inc. (TYPE) Sees Strong Trading Volume
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) shares saw unusually-strong trading volume on Friday . Approximately 435,721 shares were traded during trading, an increase of 41% from the previous session’s volume of 309,526 shares.The stock last traded at $19.87 and had previously closed at $19.80.
Several equities research analysts recently issued reports on TYPE shares. Ladenburg Thalmann started coverage on Monotype Imaging Holdings in a research report on Wednesday, May 25th. They set a “buy” rating and a $29.00 price target on the stock. Zacks Investment Research raised Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, April 14th. JPMorgan Chase & Co. reissued a “sell” rating and set a $25.00 price target on shares of Monotype Imaging Holdings in a research report on Monday, May 2nd. Finally, B. Riley reissued a “buy” rating and set a $30.00 price target on shares of Monotype Imaging Holdings in a research report on Monday, May 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.00.
The firm has a 50 day moving average of $23.88 and a 200 day moving average of $23.37. The company has a market cap of $774.22 million and a PE ratio of 33.04.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.02. During the same quarter last year, the firm earned $0.26 earnings per share. The company earned $49.80 million during the quarter, compared to analyst estimates of $49.07 million. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts anticipate that Monotype Imaging Holdings Inc. will post $1.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Friday, July 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, June 29th.
In related news, Director Pamela F. Lenehan sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $22.62, for a total value of $45,240.00. Following the transaction, the director now directly owns 69,558 shares of the company’s stock, valued at approximately $1,573,401.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven R. Martin sold 7,990 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $24.94, for a total value of $199,270.60. Following the completion of the transaction, the vice president now directly owns 91,873 shares in the company, valued at $2,291,312.62. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Monotype Imaging Holdings by 247.1% in the fourth quarter. Morgan Stanley now owns 356,931 shares of the company’s stock worth $8,437,000 after buying an additional 254,094 shares during the period. Wells Fargo & Company MN raised its stake in Monotype Imaging Holdings by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 650,372 shares of the company’s stock worth $15,374,000 after buying an additional 109,523 shares during the period. Sei Investments Co. raised its stake in Monotype Imaging Holdings by 215.2% in the fourth quarter. Sei Investments Co. now owns 78,827 shares of the company’s stock worth $1,863,000 after buying an additional 53,822 shares during the period. Principal Financial Group Inc. raised its stake in Monotype Imaging Holdings by 5.0% in the fourth quarter. Principal Financial Group Inc. now owns 262,660 shares of the company’s stock worth $6,209,000 after buying an additional 12,522 shares during the period. Finally, Rhumbline Advisers raised its stake in Monotype Imaging Holdings by 5.9% in the fourth quarter. Rhumbline Advisers now owns 86,089 shares of the company’s stock worth $2,035,000 after buying an additional 4,815 shares during the period.
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company is engaged in the development, marketing and licensing of technologies and fonts. Its business is organized as follows: Creative Professional and original equipment manufacturer (OEM).
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