B. Riley Weighs in on Monotype Imaging Holdings Inc.’s Q3 2016 Earnings (TYPE)
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) – Equities researchers at B. Riley cut their Q3 2016 EPS estimates for Monotype Imaging Holdings in a report released on Tuesday. B. Riley analyst K. Liu now anticipates that the brokerage will post earnings of $0.12 per share for the quarter, down from their prior estimate of $0.21. B. Riley currently has a “Buy” rating and a $24.00 target price on the stock. B. Riley also issued estimates for Monotype Imaging Holdings’ Q4 2016 earnings at $0.12 EPS, FY2016 earnings at $0.63 EPS and FY2017 earnings at $0.61 EPS.
Separately, Zacks Investment Research raised Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. One investment 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. The stock has a consensus rating of “Hold” and a consensus target price of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) traded up 0.85% on Thursday, reaching $21.39. The company had a trading volume of 74,419 shares. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76. The company has a market capitalization of $842.27 million, a PE ratio of 34.78 and a beta of 0.90. The company’s 50-day moving average is $21.23 and its 200-day moving average is $22.53.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Monotype Imaging Holdings had a return on equity of 11.28% and a net margin of 12.46%. The firm earned $48.70 million during the quarter, compared to the consensus estimate of $48.98 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of 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 during the last quarter. BlackRock Fund Advisors boosted its stake in shares of 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 last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of 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 worth $54,628,000 after buying an additional 76,307 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Monotype Imaging Holdings by 5.3% in the second quarter. Royce & Associates LP now owns 1,353,596 shares of the company’s stock worth $33,339,000 after buying an additional 67,600 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
In other Monotype Imaging Holdings news, Director Pamela F. Lenehan sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $24.75, for a total transaction of $49,500.00. Following the sale, the director now owns 69,558 shares in the company, valued at $1,721,560.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Steven R. Martin sold 7,990 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $24.94, for a total value of $199,270.60. Following the sale, the vice president now owns 91,873 shares in the company, valued at approximately $2,291,312.62. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
The company also recently disclosed 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 2.07%. The ex-dividend date is Thursday, September 29th. Monotype Imaging Holdings’s payout ratio is currently 72.13%.
Monotype Imaging Holdings Company Profile
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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