Other research analysts have also issued research reports about the company. TheStreet raised Monotype Imaging from a c+ rating to a b- rating in a research report on Friday, March 8th. Zacks Investment Research raised Monotype Imaging from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Tuesday, February 19th. JPMorgan Chase & Co. set a $20.00 price target on Monotype Imaging and gave the company a hold rating in a research report on Friday, April 26th. ValuEngine raised Monotype Imaging from a sell rating to a hold rating in a research report on Monday, April 1st. Finally, B. Riley reissued a neutral rating and issued a $17.50 target price (down previously from $26.00) on shares of Monotype Imaging in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $19.17.
TYPE opened at $15.93 on Tuesday. The company has a market cap of $669.01 million, a price-to-earnings ratio of 20.42 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.32 and a quick ratio of 2.32. Monotype Imaging has a one year low of $15.29 and a one year high of $22.30.
Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings results on Friday, April 26th. The software maker reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $51.36 million during the quarter, compared to analyst estimates of $57.84 million. Monotype Imaging had a return on equity of 9.44% and a net margin of 6.54%. Monotype Imaging’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 EPS. Equities research analysts forecast that Monotype Imaging will post 0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be given a $0.116 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, June 28th. Monotype Imaging’s dividend payout ratio is currently 58.97%.
In other news, EVP Benjamin W.L. Semmes III sold 8,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.00, for a total value of $168,000.00. Following the completion of the transaction, the executive vice president now owns 170,820 shares of the company’s stock, valued at approximately $3,587,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in Monotype Imaging by 51.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 130,791 shares of the software maker’s stock valued at $2,030,000 after buying an additional 44,405 shares in the last quarter. Texas Permanent School Fund increased its position in Monotype Imaging by 2.6% during the 4th quarter. Texas Permanent School Fund now owns 27,185 shares of the software maker’s stock valued at $422,000 after buying an additional 693 shares in the last quarter. Prudential Financial Inc. increased its position in Monotype Imaging by 8.7% during the 4th quarter. Prudential Financial Inc. now owns 241,538 shares of the software maker’s stock valued at $3,749,000 after buying an additional 19,298 shares in the last quarter. Bank of New York Mellon Corp increased its position in Monotype Imaging by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 633,144 shares of the software maker’s stock valued at $9,826,000 after buying an additional 7,488 shares in the last quarter. Finally, Smith Asset Management Group LP bought a new position in Monotype Imaging during the 4th quarter valued at approximately $1,643,000. 89.24% of the stock is owned by hedge funds and other institutional investors.
About Monotype Imaging
Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company's solutions include type intellectual property (IP), enterprise software for visual content marketing solutions, custom type design services, and tools and technologies through direct sales channels, e-commerce platforms, and partner platforms.
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