Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $27.50.
Several brokerages recently issued reports on TYPE. ValuEngine upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a report on Monday, February 5th. B. Riley increased their price target on Monotype Imaging from $20.00 to $24.50 and gave the company a “neutral” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. downgraded Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price target for the company. in a report on Tuesday, December 12th. Finally, Zacks Investment Research downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a report on Saturday, February 10th.
In other news, CAO Janet M. Dunlap sold 1,187 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.00, for a total transaction of $29,675.00. Following the completion of the sale, the chief accounting officer now directly owns 88,821 shares in the company, valued at $2,220,525. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Janet M. Dunlap sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the sale, the chief accounting officer now owns 90,008 shares of the company’s stock, valued at $2,250,200. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Monotype Imaging by 8.9% during the second quarter. Goldman Sachs Group Inc. now owns 59,867 shares of the software maker’s stock worth $1,096,000 after purchasing an additional 4,871 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Monotype Imaging by 64.4% during the third quarter. Citadel Advisors LLC now owns 201,913 shares of the software maker’s stock worth $3,887,000 after purchasing an additional 79,105 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Monotype Imaging by 2.0% during the second quarter. Vanguard Group Inc. now owns 3,758,278 shares of the software maker’s stock worth $68,777,000 after purchasing an additional 74,910 shares during the last quarter. Scoggin Management LP bought a new position in shares of Monotype Imaging during the third quarter worth about $3,465,000. Finally, Lapides Asset Management LLC lifted its position in shares of Monotype Imaging by 262.9% during the third quarter. Lapides Asset Management LLC now owns 145,900 shares of the software maker’s stock worth $2,809,000 after purchasing an additional 105,700 shares during the last quarter. Institutional investors own 88.18% of the company’s stock.
Shares of Monotype Imaging (NASDAQ:TYPE) traded up $0.15 during midday trading on Wednesday, reaching $24.25. The company had a trading volume of 418,436 shares, compared to its average volume of 362,482. Monotype Imaging has a 52-week low of $15.75 and a 52-week high of $26.75. The firm has a market cap of $1,005.80, a P/E ratio of 89.81, a P/E/G ratio of 3.06 and a beta of 0.88. The company has a current ratio of 2.26, a quick ratio of 2.43 and a debt-to-equity ratio of 0.28.
Monotype Imaging (NASDAQ:TYPE) last announced its quarterly earnings results on Friday, February 16th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.31. Monotype Imaging had a return on equity of 6.10% and a net margin of 4.90%. The firm had revenue of $65.02 million during the quarter, compared to the consensus estimate of $62.45 million. During the same period in the prior year, the firm earned $0.12 EPS. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. equities analysts predict that Monotype Imaging will post 0.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.116 per share. The ex-dividend date of this dividend is Thursday, March 29th. This is an increase from Monotype Imaging’s previous quarterly dividend of $0.11. This represents a $0.46 annualized dividend and a dividend yield of 1.91%. Monotype Imaging’s dividend payout ratio (DPR) is currently 166.67%.
About Monotype Imaging
Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).
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