State Board of Administration of Florida Retirement System reduced its position in shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 32,149 shares of the company’s stock after selling 129 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.08% of Monotype Imaging Holdings worth $792,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new stake in shares of Monotype Imaging Holdings during the second quarter valued at approximately $8,281,000. Columbus Circle Investors raised its stake in shares of Monotype Imaging Holdings by 83.3% in the second quarter. Columbus Circle Investors now owns 690,730 shares of the company’s stock valued at $17,013,000 after buying an additional 313,844 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Monotype Imaging Holdings by 11.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,334,542 shares of the company’s stock valued at $31,922,000 after buying an additional 136,504 shares during the period. Confluence Investment Management LLC purchased a new stake in shares of Monotype Imaging Holdings during the second quarter valued at approximately $2,124,000. Finally, Renaissance Technologies LLC raised its stake in shares of Monotype Imaging Holdings by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,271,200 shares of the company’s stock valued at $30,407,000 after buying an additional 57,299 shares during the period. 93.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) traded down 2.22% on Thursday, hitting $22.02. The company had a trading volume of 131,052 shares. The company has a 50-day moving average of $21.24 and a 200 day moving average of $22.59. The stock has a market cap of $867.08 million, a PE ratio of 35.80 and a beta of 0.79. Monotype Imaging Holdings Inc. has a 12 month low of $17.31 and a 12 month high of $27.76.
Monotype Imaging Holdings (NASDAQ:TYPE) last released its quarterly earnings data on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The firm had revenue of $48.70 million for the quarter, compared to analyst estimates of $48.98 million. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. Monotype Imaging Holdings’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.24 earnings per share. Analysts anticipate that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be paid a dividend of $0.11 per share. 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 (DPR) is 72.13%.
TYPE has been the topic of several research analyst reports. Zacks Investment Research raised Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. B. Riley reissued a “buy” rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.80.
In other Monotype Imaging Holdings news, Director Douglas J. Shaw sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $20.88, for a total value of $522,000.00. Following the sale, the director now owns 119,897 shares in the company, valued at $2,503,449.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Scott E. Landers purchased 3,285 shares of the company’s stock in a transaction on Monday, August 1st. The stock was purchased at an average price of $20.42 per share, for a total transaction of $67,079.70. Following the purchase, the chief operating officer now directly owns 159,725 shares of the company’s stock, valued at approximately $3,261,584.50. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
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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