Monotype Imaging Holdings Inc. (TYPE) Downgraded by Zacks Investment Research
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
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 reaffirmed a “buy” rating and issued a $24.00 price target on shares of Monotype Imaging Holdings in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Monotype Imaging Holdings has a consensus rating of “Hold” and a consensus price target of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.33 on Friday. Monotype Imaging Holdings has a 12 month low of $17.31 and a 12 month high of $27.76. The company has a market cap of $839.91 million, a price-to-earnings ratio of 34.68 and a beta of 0.90. The firm’s 50-day moving average is $21.23 and its 200-day moving average is $22.52.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its earnings results on Friday, July 29th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.03. The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $48.98 million. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. On average, analysts anticipate that Monotype Imaging Holdings will post $0.96 EPS 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 given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, September 29th. Monotype Imaging Holdings’s dividend payout ratio (DPR) is 72.13%.
In other Monotype Imaging Holdings news, VP Steven R. Martin sold 7,990 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $24.94, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Scott E. Landers bought 3,285 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was acquired at an average cost of $20.42 per share, with a total value of $67,079.70. Following the transaction, the chief operating officer now owns 159,725 shares in the company, valued at approximately $3,261,584.50. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of TYPE. Bank of Montreal Can acquired a new position in shares of Monotype Imaging Holdings during the second quarter worth $108,000. Huntington National Bank raised its position in shares of 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 during the period. PineBridge Investments L.P. raised its position in shares of 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 during the period. Teacher Retirement System of Texas raised its position in shares of 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 during the period. Finally, Victory Capital Management Inc. raised its position in shares of 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 during the period. 93.58% of the stock is owned by institutional investors and hedge funds.
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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