Monotype Imaging Holdings Inc. (NASDAQ:TYPE) has been given a consensus broker rating score of 2.25 (Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. Monotype Imaging Holdings’ rating score has declined by 69.2% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus target price of $24.75 for the company and are expecting that the company will post $0.12 EPS for the current quarter, according to Zacks. Zacks has also given Monotype Imaging Holdings an industry rank of 166 out of 265 based on the ratings given to related companies.
Several brokerages recently issued reports on TYPE. B. Riley reissued a “buy” rating and issued a $24.00 price target on shares of Monotype Imaging Holdings in a report on Sunday, October 9th. Zacks Investment Research downgraded Monotype Imaging Holdings from a “hold” rating to a “sell” rating in a report on Friday, October 7th.
In other Monotype Imaging Holdings news, Director Douglas J. Shaw sold 25,000 shares of Monotype Imaging Holdings stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $20.88, for a total transaction of $522,000.00. Following the sale, the director now owns 119,897 shares of the company’s stock, valued at approximately $2,503,449.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Scott E. Landers bought 3,285 shares of the business’s stock in a transaction on Monday, August 1st. The shares were acquired at an average cost 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 in the company, valued at $3,261,584.50. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in Monotype Imaging Holdings during the second quarter worth approximately $108,000. Huntington National Bank increased its stake in Monotype Imaging Holdings by 29.8% in the second quarter. Huntington National Bank now owns 4,933 shares of the company’s stock worth $121,000 after buying an additional 1,132 shares in the last quarter. PineBridge Investments L.P. increased its stake 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 worth $127,000 after buying an additional 267 shares in the last quarter. Teacher Retirement System of Texas increased its stake 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 worth $138,000 after buying an additional 665 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake 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 worth $141,000 after buying an additional 1,541 shares in the last quarter. 93.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.20 on Thursday. The firm has a 50-day moving average price of $21.32 and a 200 day moving average price of $22.42. The firm has a market cap of $834.79 million, a price-to-earnings ratio of 34.47 and a beta of 0.90. Monotype Imaging Holdings has a 12-month low of $17.31 and a 12-month high of $27.76.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $48.70 million for the quarter, compared to the consensus estimate 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 revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. On average, equities research analysts anticipate that Monotype Imaging Holdings will post $0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 29th. Monotype Imaging Holdings’s payout ratio is currently 72.13%.
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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