First Mercantile Trust Co. raised its stake in shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 136.7% during the second quarter, Holdings Channel reports. The institutional investor owned 14,200 shares of the company’s stock after buying an additional 8,200 shares during the period. First Mercantile Trust Co.’s holdings in Monotype Imaging Holdings were worth $350,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Bank of Montreal Can purchased a new position in Monotype Imaging Holdings during the second quarter valued at $108,000. Huntington National Bank increased its position in Monotype Imaging Holdings by 29.8% in the second quarter. Huntington National Bank now owns 4,933 shares of the company’s stock valued at $121,000 after buying an additional 1,132 shares during the last quarter. PineBridge Investments L.P. increased its position in Monotype Imaging Holdings by 5.5% in the second quarter. PineBridge Investments L.P. now owns 5,157 shares of the company’s stock valued at $127,000 after buying an additional 267 shares during the last quarter. Teacher Retirement System of Texas increased its position in Monotype Imaging Holdings by 13.5% in the second quarter. Teacher Retirement System of Texas now owns 5,583 shares of the company’s stock valued at $138,000 after buying an additional 665 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Monotype Imaging Holdings by 36.8% in the second quarter. Victory Capital Management Inc. now owns 5,728 shares of the company’s stock valued at $141,000 after buying an additional 1,541 shares during the last quarter. 93.58% of the stock is owned by hedge funds and other institutional investors.
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) opened at 22.52 on Thursday. Monotype Imaging Holdings Inc. has a 52 week low of $17.31 and a 52 week high of $27.76. The firm has a 50-day moving average price of $21.24 and a 200 day moving average price 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 issued its quarterly earnings results on Friday, July 29th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The business earned $48.70 million during the quarter, compared to analysts’ expectations of $48.98 million. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.24 earnings per share. Analysts expect 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. Shareholders of record on Monday, October 3rd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, September 29th. Monotype Imaging Holdings’s payout ratio is 72.13%.
Several research analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Monotype Imaging Holdings currently has a consensus rating of “Hold” and a consensus target price of $27.80.
In other Monotype Imaging Holdings news, EVP Benjamin W.L. Semmes III acquired 12,500 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was purchased at an average price of $20.49 per share, with a total value of $256,125.00. Following the completion of the purchase, the executive vice president now directly owns 62,163 shares in the company, valued at approximately $1,273,719.87. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Steven R. Martin sold 2,000 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $25.12, for a total value of $50,240.00. Following the completion of the transaction, the vice president now directly owns 81,883 shares of the company’s stock, valued at approximately $2,056,900.96. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.
About Monotype Imaging Holdings
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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