Zacks Investment Research lowered shares of Monotype Imaging (NASDAQ:TYPE) from a hold rating to a sell rating in a report released on Saturday morning.

According to Zacks, “Monotype is a leader in empowering expression and engagement through a combination of type, technology and expertise. Headquartered in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. The company’s libraries and e-commerce sites are home to many of the most widely used typefaces – including the Helvetica, Frutiger and Univers families – as well as the next generation of type designs. Monotype provides the design assets, technology and expertise that help you create beautiful, authentic and impactful brands that customers will engage with and value, wherever they experience your brand, now and in the future. Their fonts and technologies are designed to enable creative expression and give brands a distinct global voice. They are behind the text you read in newspapers and books, in the apps on your phone, in the websites you browse, on the dashboard you scan, on the goods you buy, and in the games you play. “

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut Monotype Imaging from a neutral rating to an underweight rating and set a $24.00 price objective for the company. in a research note on Tuesday, December 12th. BidaskClub cut Monotype Imaging from a buy rating to a hold rating in a research note on Tuesday, December 12th. B. Riley raised their price objective on Monotype Imaging from $20.00 to $24.50 and gave the stock a neutral rating in a research note on Wednesday, November 1st. Finally, ValuEngine cut Monotype Imaging from a hold rating to a sell rating in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has a consensus rating of Sell and a consensus price target of $23.17.

Monotype Imaging (NASDAQ:TYPE) opened at $23.10 on Friday. Monotype Imaging has a 12 month low of $15.75 and a 12 month high of $25.77. The stock has a market capitalization of $964.06, a PE ratio of 121.58, a PEG ratio of 3.42 and a beta of 0.87. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

In related news, CAO Janet M. Dunlap sold 2,000 shares of Monotype Imaging stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 90,008 shares in the company, valued at $2,250,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Janet M. Dunlap sold 8,063 shares of Monotype Imaging stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $25.00, for a total value of $201,575.00. Following the transaction, the vice president now owns 92,913 shares of the company’s stock, valued at $2,322,825. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in Monotype Imaging by 0.9% during the second quarter. Royal Bank of Canada now owns 81,759 shares of the software maker’s stock valued at $1,496,000 after acquiring an additional 739 shares in the last quarter. Voya Investment Management LLC raised its position in Monotype Imaging by 8.4% during the second quarter. Voya Investment Management LLC now owns 21,703 shares of the software maker’s stock valued at $397,000 after acquiring an additional 1,684 shares in the last quarter. WCM Investment Management CA raised its position in Monotype Imaging by 5.2% during the third quarter. WCM Investment Management CA now owns 59,589 shares of the software maker’s stock valued at $1,147,000 after acquiring an additional 2,930 shares in the last quarter. First Manhattan Co. raised its position in Monotype Imaging by 30.0% during the fourth quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock valued at $313,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in Monotype Imaging by 1.1% during the third quarter. Granahan Investment Management Inc. MA now owns 269,339 shares of the software maker’s stock valued at $5,185,000 after acquiring an additional 3,062 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.

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About Monotype Imaging

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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