Monotype Imaging Holdings Inc. (NASDAQ:TYPE) dropped 7.4% during mid-day trading on Wednesday . The stock traded as low as $18.47 and last traded at $18.91, with a volume of 696,388 shares. The stock had previously closed at $20.42.

TYPE has been the topic of several analyst reports. Ladenburg Thalmann initiated coverage on Monotype Imaging Holdings in a report on Wednesday, May 25th. They set a “buy” rating and a $29.00 price objective on the stock. Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, April 14th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $25.00 target price on shares of Monotype Imaging Holdings in a research report on Monday, May 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of Monotype Imaging Holdings in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $29.00.

The stock’s 50-day moving average price is $23.68 and its 200-day moving average price is $23.35. The company has a market capitalization of $744.88 million and a price-to-earnings ratio of 31.79.

Monotype Imaging Holdings (NASDAQ:TYPE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. During the same quarter last year, the company posted $0.24 EPS. The company had revenue of $48.70 million for the quarter, compared to the consensus estimate of $48.98 million. The business’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that Monotype Imaging Holdings Inc. will post $1.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 21st. Stockholders of record on Friday, July 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.44 annualized dividend and a dividend yield of 2.31%.

In related news, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $22.93, for a total transaction of $45,860.00. Following the completion of the transaction, the vice president now owns 94,482 shares of the company’s stock, valued at approximately $2,166,472.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John L. Seguin sold 1,457 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $22.93, for a total value of $33,409.01. Following the transaction, the executive vice president now directly owns 36,754 shares of the company’s stock, valued at approximately $842,769.22. The disclosure for this sale can be found here.

Several institutional investors have bought and sold shares of TYPE. Sei Investments Co. boosted its position in Monotype Imaging Holdings by 215.2% in the fourth quarter. Sei Investments Co. now owns 78,827 shares of the company’s stock valued at $1,863,000 after buying an additional 53,822 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 valued at $6,209,000 after buying an additional 12,522 shares in the last quarter. Rhumbline Advisers boosted its position in Monotype Imaging Holdings by 5.9% in the fourth quarter. Rhumbline Advisers now owns 86,089 shares of the company’s stock valued at $2,035,000 after buying an additional 4,815 shares in the last quarter. Morgan Stanley boosted its position in Monotype Imaging Holdings by 247.1% in the fourth quarter. Morgan Stanley now owns 356,931 shares of the company’s stock valued at $8,437,000 after buying an additional 254,094 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Monotype Imaging Holdings by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 74,182 shares of the company’s stock valued at $1,754,000 after buying an additional 1,263 shares in the last quarter.

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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