According to Zacks, “Monotype Imaging is a global provider of text imaging solutions for manufacturers and developers of consumer electronics devices including laser printers, copiers, mobile phones, digital televisions, set-top boxes, digital cameras and software applications and operating systems. The company also provides printer drivers and color imaging technologies to OEMs. Monotype Imaging technologies are combined with access to more than nine thousand typefaces from the Monotype, Linotype and ITC typeface libraries home to some of the world’s most widely used designs, including the Times New Roman, Helvetica and ITC Franklin Gothic typefaces. Fonts are licensed to creative and business professionals through custom font designs, direct sales or e-commerce portals. Monotype Imaging offers fonts and industry-standard solutions that support all of the world’s major languages. “
Separately, B. Riley reissued a buy rating and issued a $24.00 target price on shares of Monotype Imaging Holdings in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.31 on Friday. The firm has a market capitalization of $839.12 million, a price-to-earnings ratio of 34.65 and a beta of 0.90. The firm has a 50-day moving average price of $21.26 and a 200 day moving average price of $22.48. Monotype Imaging Holdings has a 52 week low of $17.31 and a 52 week high of $27.76.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its earnings results on Friday, July 29th. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. The business 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 company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. On average, equities research analysts forecast that Monotype Imaging Holdings will post $0.96 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 29th. Monotype Imaging Holdings’s payout ratio is currently 72.13%.
In other Monotype Imaging Holdings news, VP Steven R. Martin sold 2,000 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $25.12, for a total transaction of $50,240.00. Following the completion of the sale, the vice president now owns 81,883 shares of the company’s stock, valued at $2,056,900.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Scott E. Landers purchased 3,285 shares of the business’s stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $20.42 per share, with a total value of $67,079.70. Following the acquisition, 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. 2.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Monotype Imaging Holdings by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,213,881 shares of the company’s stock valued at $79,158,000 after buying an additional 95,498 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Monotype Imaging Holdings by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 2,615,182 shares of the company’s stock valued at $64,412,000 after buying an additional 22,507 shares in the last quarter. BlackRock Fund Advisors raised its stake in Monotype Imaging Holdings by 4.1% in the second quarter. BlackRock Fund Advisors now owns 2,588,098 shares of the company’s stock valued at $63,745,000 after buying an additional 102,924 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Monotype Imaging Holdings by 3.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,217,967 shares of the company’s stock valued at $54,628,000 after buying an additional 76,307 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Monotype Imaging Holdings by 5.3% in the second quarter. Royce & Associates LP now owns 1,353,596 shares of the company’s stock valued at $33,339,000 after buying an additional 67,600 shares in the last quarter. 93.58% of the stock is owned by institutional investors and hedge funds.
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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