Confluence Investment Management LLC bought a new stake in shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) during the second quarter, Holdings Channel reports. The fund bought 86,230 shares of the company’s stock, valued at approximately $2,124,000.
A number of other large investors also recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in Monotype Imaging Holdings by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,271,200 shares of the company’s stock worth $30,407,000 after buying an additional 57,299 shares during the last quarter. BlackRock Group LTD raised its position in Monotype Imaging Holdings by 18.5% in the first quarter. BlackRock Group LTD now owns 82,850 shares of the company’s stock worth $1,982,000 after buying an additional 12,916 shares during the last quarter. Bank of Montreal Can acquired a new position in Monotype Imaging Holdings during the second quarter worth approximately $108,000. UBS Asset Management Americas Inc. raised its position in Monotype Imaging Holdings by 8.5% in the first quarter. UBS Asset Management Americas Inc. now owns 76,543 shares of the company’s stock worth $1,830,000 after buying an additional 6,023 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC raised its position in Monotype Imaging Holdings by 5.0% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 316,725 shares of the company’s stock worth $7,576,000 after buying an additional 15,075 shares during the last quarter. Institutional investors own 93.58% of the company’s stock.
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) traded up 1.26% on Wednesday, hitting $22.52. The stock had a trading volume of 159,399 shares. Monotype Imaging Holdings Inc. has a 52-week low of $17.31 and a 52-week high of $27.76. The company has a 50-day moving average of $21.24 and a 200-day moving average of $22.59. The company has a market cap of $886.77 million, a P/E ratio of 36.62 and a beta of 0.79.
Monotype Imaging Holdings (NASDAQ:TYPE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The company earned $48.70 million during the quarter, compared to analyst estimates of $48.98 million. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. On average, equities analysts anticipate that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current fiscal year.
The business 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 $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.44 annualized dividend and a yield of 1.95%. Monotype Imaging Holdings’s dividend payout ratio is currently 72.13%.
A number of research firms have commented on TYPE. B. Riley reaffirmed a “buy” rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a research report on Tuesday, August 2nd. Zacks Investment Research raised Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.80.
In related news, COO Scott E. Landers purchased 3,285 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average price of $20.42 per share, for a total transaction of $67,079.70. Following the completion of the transaction, the chief operating officer now owns 159,725 shares in the company, valued at approximately $3,261,584.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas J. Shaw sold 25,000 shares of Monotype Imaging Holdings stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $20.88, for a total value of $522,000.00. Following the completion of the transaction, the director now owns 119,897 shares of the company’s stock, valued at approximately $2,503,449.36. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
Monotype Imaging Holdings Company Profile
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).
Want to see what other hedge funds are holding TYPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monotype Imaging Holdings Inc. (NASDAQ:TYPE).
Receive News & Ratings for Monotype Imaging Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monotype Imaging Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.