Monotype Imaging Holdings Inc. (TYPE) Sees Unusually-High Trading Volume
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) shares saw an uptick in trading volume on Friday . 261,644 shares changed hands during trading, an increase of 74% from the previous session’s volume of 150,249 shares.The stock last traded at $24.20 and had previously closed at $23.79.
Several research firms have issued reports on TYPE. B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Monotype Imaging Holdings in a research report on Monday, May 2nd. Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Thursday, April 14th. JPMorgan Chase & Co. restated a “sell” rating and issued a $25.00 price target on shares of Monotype Imaging Holdings in a report on Monday, May 2nd. Finally, Ladenburg Thalmann began coverage on Monotype Imaging Holdings in a report on Wednesday, May 25th. They issued a “buy” rating and a $29.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.00.
The company’s 50 day moving average price is $23.82 and its 200 day moving average price is $23.36. The company has a market cap of $946.75 million and a PE ratio of 40.40.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its earnings results on Friday, April 29th. The company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.02. The business earned $49.80 million during the quarter, compared to the consensus estimate of $49.07 million. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. On average, equities analysts forecast that Monotype Imaging Holdings Inc. will post $1.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Shareholders of record on Friday, July 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.82%.
In other Monotype Imaging Holdings news, VP Steven R. Martin sold 1,110 shares of Monotype Imaging Holdings stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $23.36, for a total value of $25,929.60. Following the completion of the transaction, the vice president now directly owns 90,810 shares in the company, valued at $2,121,321.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Pamela F. Lenehan sold 2,000 shares of Monotype Imaging Holdings stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $22.56, for a total value of $45,120.00. Following the completion of the transaction, the director now owns 64,158 shares of the company’s stock, valued at $1,447,404.48. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake 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 worth $1,754,000 after buying an additional 1,263 shares during the period. Sei Investments Co. boosted 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. Rhumbline Advisers boosted 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. Eagle Asset Management Inc. boosted its stake in Monotype Imaging Holdings by 0.8% in the fourth quarter. Eagle Asset Management Inc. now owns 142,156 shares of the company’s stock worth $3,360,000 after buying an additional 1,077 shares during the period. Finally, Principal Financial Group Inc. boosted 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.
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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