BidaskClub cut shares of Monotype Imaging (NASDAQ:TYPE) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning.
Several other research firms also recently commented on TYPE. Zacks Investment Research upgraded Monotype Imaging from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Tuesday, July 3rd. ValuEngine downgraded Monotype Imaging from a buy rating to a hold rating in a research report on Monday, July 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $26.00.
Monotype Imaging stock traded down $0.03 during trading hours on Thursday, hitting $20.17. The stock had a trading volume of 1,104 shares, compared to its average volume of 208,384. 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 company has a market capitalization of $852.60 million, a PE ratio of 37.92 and a beta of 1.00. Monotype Imaging has a one year low of $18.20 and a one year high of $26.75.
Monotype Imaging (NASDAQ:TYPE) last posted its earnings results on Friday, July 27th. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.11 by $0.19. The firm had revenue of $60.69 million during the quarter, compared to the consensus estimate 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 company earned $0.08 earnings per share. analysts predict that Monotype Imaging will post 0.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Monday, October 1st will be given a dividend of $0.116 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.30%. Monotype Imaging’s dividend payout ratio (DPR) is 86.79%.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Monotype Imaging by 8.3% during the second quarter. BlackRock Inc. now owns 5,819,939 shares of the software maker’s stock worth $118,145,000 after acquiring an additional 443,624 shares during the last quarter. RGM Capital LLC raised its position in shares of Monotype Imaging by 2.3% during the second quarter. RGM Capital LLC now owns 3,533,838 shares of the software maker’s stock worth $71,737,000 after acquiring an additional 79,399 shares during the last quarter. Trigran Investments Inc. raised its position in shares of Monotype Imaging by 1.8% during the second quarter. Trigran Investments Inc. now owns 2,157,734 shares of the software maker’s stock worth $43,802,000 after acquiring an additional 39,078 shares during the last quarter. FMR LLC raised its position in shares of Monotype Imaging by 1.4% during the second quarter. FMR LLC now owns 1,895,630 shares of the software maker’s stock worth $38,481,000 after acquiring an additional 26,547 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Monotype Imaging by 1,493.0% during the first quarter. Millennium Management LLC now owns 677,958 shares of the software maker’s stock worth $15,220,000 after acquiring an additional 635,399 shares during the last quarter. Institutional investors own 88.44% of the company’s stock.
Monotype Imaging Company Profile
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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