Monotype Imaging Holdings Inc. (TYPE) Updates Q3 Earnings Guidance
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.17-0.22 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.26. The company issued revenue guidance of $49.5-53.5 million, compared to the consensus revenue estimate of $51.42 million.
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) traded down 5.78% during trading on Tuesday, reaching $20.55. The company’s stock had a trading volume of 350,855 shares. The company’s 50-day moving average is $21.27 and its 200-day moving average is $22.57. The company has a market capitalization of $809.20 million, a P/E ratio of 33.41 and a beta of 0.90. 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 earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. The business earned $48.70 million during the quarter, compared to analysts’ expectations of $48.98 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. On average, analysts forecast that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, September 29th. Monotype Imaging Holdings’s payout ratio is presently 72.13%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Monotype Imaging Holdings from a sell rating to a hold rating in a research note on Tuesday, July 5th. B. Riley restated a buy rating and set a $24.00 price target on shares of Monotype Imaging Holdings in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Monotype Imaging Holdings has a consensus rating of Hold and a consensus target price of $27.80.
In other news, VP Steven R. Martin sold 2,000 shares of Monotype Imaging Holdings stock in a transaction that occurred on Friday, July 15th. The shares were 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 owns 81,883 shares in the company, valued at $2,056,900.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Steven R. Martin sold 7,990 shares of Monotype Imaging Holdings stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $24.94, for a total transaction of $199,270.60. Following the completion of the transaction, the vice president now owns 91,873 shares of the company’s stock, valued at approximately $2,291,312.62. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TYPE. Riverhead Capital Management LLC boosted its position in Monotype Imaging Holdings by 13,635.3% in the second quarter. Riverhead Capital Management LLC now owns 638,691 shares of the company’s stock worth $29,068,000 after buying an additional 634,041 shares during the period. BlackRock Fund Advisors boosted its position 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 worth $63,745,000 after buying an additional 102,924 shares during the period. Citadel Advisors LLC boosted its position in Monotype Imaging Holdings by 631.1% in the second quarter. Citadel Advisors LLC now owns 68,059 shares of the company’s stock worth $1,677,000 after buying an additional 58,750 shares during the period. WBI Investments Inc. boosted its position in Monotype Imaging Holdings by 255.1% in the second quarter. WBI Investments Inc. now owns 77,224 shares of the company’s stock worth $1,902,000 after buying an additional 55,476 shares during the period. Finally, TFS Capital LLC purchased a new position in Monotype Imaging Holdings during the second quarter worth about $1,147,000. Institutional investors own 93.58% 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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