Monotype Imaging Holdings Inc. (NASDAQ:TYPE) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 428,512 shares, a drop of 53.0% from the August 15th total of 910,857 shares. Based on an average trading volume of 223,912 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.0% of the shares of the stock are sold short.

A number of equities research analysts have commented on the company. BidaskClub cut Monotype Imaging from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. ValuEngine cut Monotype Imaging from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research raised Monotype Imaging from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, July 3rd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $26.00.

NASDAQ:TYPE opened at $20.35 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. The stock has a market cap of $848.39 million, a price-to-earnings ratio of 38.40 and a beta of 1.00. Monotype Imaging has a 52 week low of $18.20 and a 52 week high of $26.75.

Monotype Imaging (NASDAQ:TYPE) last posted its quarterly earnings results on Friday, July 27th. The software maker reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.19. The business had revenue of $60.69 million for the quarter, compared to analysts’ expectations of $59.64 million. Monotype Imaging had a return on equity of 8.88% and a net margin of 5.19%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. analysts predict that Monotype Imaging will post 0.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Monday, October 1st will be issued a $0.116 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.46 annualized dividend and a dividend yield of 2.28%. Monotype Imaging’s dividend payout ratio (DPR) is 86.79%.

Several hedge funds have recently modified their holdings of TYPE. Millennium Management LLC increased its holdings in shares of Monotype Imaging by 1,493.0% in the first quarter. Millennium Management LLC now owns 677,958 shares of the software maker’s stock worth $15,220,000 after purchasing an additional 635,399 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Monotype Imaging by 8.3% in the second quarter. BlackRock Inc. now owns 5,819,939 shares of the software maker’s stock worth $118,145,000 after purchasing an additional 443,624 shares during the last quarter. Spark Investment Management LLC bought a new stake in shares of Monotype Imaging in the first quarter worth about $7,114,000. Prudential Financial Inc. increased its holdings in shares of Monotype Imaging by 352.2% in the first quarter. Prudential Financial Inc. now owns 310,772 shares of the software maker’s stock worth $6,977,000 after purchasing an additional 242,052 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Monotype Imaging by 67.7% in the second quarter. Citadel Advisors LLC now owns 423,890 shares of the software maker’s stock worth $8,605,000 after purchasing an additional 171,073 shares during the last quarter. 88.44% of the stock is currently owned by hedge funds and other institutional investors.

About Monotype Imaging

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.

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