Monotype Imaging Holdings Inc. (TYPE) Sees Unusually-High Trading Volume
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) saw strong trading volume on Monday . 141,520 shares changed hands during trading, a decline of 58% from the previous session’s volume of 335,777 shares.The stock last traded at $19.63 and had previously closed at $19.65.
Several analysts have recently commented on the company. B. Riley reiterated a “neutral” rating and set a $20.00 price objective on shares of Monotype Imaging Holdings in a report on Saturday, August 5th. Zacks Investment Research lowered Monotype Imaging Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, BidaskClub upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $20.50.
The firm has a market capitalization of $776.29 million, a PE ratio of 675.000 and a beta of 0.93. The company’s 50 day moving average is $18.84 and its 200 day moving average is $19.25.
Monotype Imaging Holdings (NASDAQ:TYPE) last issued its earnings results on Friday, July 28th. The software maker reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $58.70 million during the quarter, compared to the consensus estimate of $54.36 million. Monotype Imaging Holdings had a net margin of 0.61% and a return on equity of 3.51%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Equities research analysts expect that Monotype Imaging Holdings Inc. will post $0.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Monday, October 2nd will be paid a dividend of $0.113 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 2.29%. Monotype Imaging Holdings’s payout ratio is currently 1,500.50%.
In related news, Director Roger J. Heinen, Jr. sold 1,500 shares of the business’s stock in a transaction on Sunday, July 16th. The shares were sold at an average price of $18.05, for a total transaction of $27,075.00. Following the completion of the transaction, the director now owns 30,640 shares in the company, valued at $553,052. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have sold 6,000 shares of company stock valued at $110,700. Insiders own 2.30% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Monotype Imaging Holdings by 0.6% in the second quarter. BlackRock Inc. now owns 4,945,729 shares of the software maker’s stock valued at $90,506,000 after acquiring an additional 28,680 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Monotype Imaging Holdings by 3.6% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,231,349 shares of the software maker’s stock valued at $77,434,000 after acquiring an additional 148,585 shares in the last quarter. Vanguard Group Inc. boosted its stake in Monotype Imaging Holdings by 2.0% in the second quarter. Vanguard Group Inc. now owns 3,758,278 shares of the software maker’s stock valued at $68,777,000 after acquiring an additional 74,910 shares in the last quarter. RGM Capital LLC boosted its stake in Monotype Imaging Holdings by 19.7% in the first quarter. RGM Capital LLC now owns 2,809,116 shares of the software maker’s stock valued at $56,463,000 after acquiring an additional 462,836 shares in the last quarter. Finally, Trigran Investments Inc. boosted its stake in Monotype Imaging Holdings by 33.0% in the second quarter. Trigran Investments Inc. now owns 1,848,349 shares of the software maker’s stock valued at $33,825,000 after acquiring an additional 459,025 shares in the last quarter. Hedge funds and other institutional investors own 90.33% of the company’s stock.
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About Monotype Imaging Holdings
Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).
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