Monotype Imaging Holdings Inc. (TYPE) Trading 2.8% Higher
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) traded up 2.8% 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 analysts recently weighed in on the stock. B. Riley reissued a “buy” rating and issued a $24.00 price objective on shares of Monotype Imaging Holdings in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Ladenburg Thalmann initiated coverage on shares of Monotype Imaging Holdings in a research note on Wednesday, May 25th. They issued a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Monotype Imaging Holdings currently has an average rating of “Hold” and an average target price of $27.80.
The company has a 50-day moving average price of $21.35 and a 200 day moving average price of $22.91. The company has a market cap of $831.25 million and a price-to-earnings ratio of 34.33.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $48.70 million for the quarter, compared to analyst estimates of $48.98 million. During the same quarter in the previous year, the firm posted $0.24 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Monotype Imaging Holdings Inc. will post $1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.44 dividend on an annualized basis and a yield of 2.08%.
In related news, VP Steven R. Martin sold 7,990 shares of the business’s stock in a transaction dated 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 directly owns 91,873 shares in the company, valued at $2,291,312.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was 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 $1,800,129.18. 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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