Monotype Imaging Holdings Inc. (TYPE) Shares Up 2.8%
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) shot up 2.8% during trading on Wednesday . The company traded as high as $21.54 and last traded at $21.38, with a volume of 194,268 shares traded. The stock had previously closed at $20.79.
A number of brokerages recently commented on TYPE. B. Riley restated a “buy” rating and set a $24.00 price objective on shares of Monotype Imaging Holdings in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Ladenburg Thalmann began coverage on shares of Monotype Imaging Holdings in a report on Wednesday, May 25th. They set a “buy” rating and a $29.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.80.
The firm has a market capitalization of $842.67 million and a price-to-earnings ratio of 34.80. The firm’s 50-day moving average price is $21.56 and its 200-day moving average price is $22.94.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The business had revenue of $48.70 million for the quarter, compared to the consensus estimate of $48.98 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. On average, analysts forecast that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, September 29th.
In related news, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $21.46, for a total transaction of $42,920.00. Following the transaction, the vice president now owns 83,883 shares in the company, valued at approximately $1,800,129.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven R. Martin sold 7,990 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $24.94, for a total transaction of $199,270.60. Following the transaction, the vice president now owns 91,873 shares in the company, valued at approximately $2,291,312.62. The disclosure for this sale can be found here.
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company’s business segment operates through development, marketing and licensing of technologies and fonts. Its business includes Creative Professional and original equipment manufacturer (OEM).
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