Monotype Imaging Holdings Inc. (TYPE) Lowered to Sell at Zacks Investment Research
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. “
Separately, B. Riley reissued a buy rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a research report on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Monotype Imaging Holdings currently has a consensus rating of Hold and an average target price of $27.80.
Shares of Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.36 on Friday. The firm has a 50-day moving average price of $21.27 and a 200-day moving average price of $22.47. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76. The firm has a market cap of $841.09 million, a price-to-earnings ratio of 34.73 and a beta of 0.90.
Monotype Imaging Holdings (NASDAQ:TYPE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The company earned $48.70 million during the quarter, compared to the consensus estimate of $48.98 million. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. Monotype Imaging Holdings’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. Analysts predict that Monotype Imaging Holdings will post $0.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Monday, October 3rd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Thursday, September 29th. Monotype Imaging Holdings’s dividend payout ratio is currently 72.13%.
In other Monotype Imaging Holdings news, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $25.12, for a total transaction of $50,240.00. Following the completion of the sale, the vice president now owns 81,883 shares of the company’s stock, valued at $2,056,900.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas J. Shaw sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $20.90, for a total value of $522,500.00. Following the sale, the director now directly owns 94,897 shares of the company’s stock, valued at approximately $1,983,347.30. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of TYPE. Vanguard Group Inc. increased its stake in Monotype Imaging Holdings by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,213,881 shares of the company’s stock worth $79,158,000 after buying an additional 95,498 shares during the period. JPMorgan Chase & Co. increased its stake in Monotype Imaging Holdings by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 2,615,182 shares of the company’s stock worth $64,412,000 after buying an additional 22,507 shares during the period. BlackRock Fund Advisors increased its stake in Monotype Imaging Holdings by 4.1% in the second quarter. BlackRock Fund Advisors now owns 2,588,098 shares of the company’s stock worth $63,745,000 after buying an additional 102,924 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Monotype Imaging Holdings by 3.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,217,967 shares of the company’s stock worth $54,628,000 after buying an additional 76,307 shares during the period. Finally, Royce & Associates LP increased its stake in Monotype Imaging Holdings by 5.3% in the second quarter. Royce & Associates LP now owns 1,353,596 shares of the company’s stock worth $33,339,000 after buying an additional 67,600 shares during the period. 93.58% of the stock is owned by hedge funds and other institutional investors.
About Monotype Imaging Holdings
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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