Monotype Imaging Holdings Inc. (NASDAQ:TYPE) has been given an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and two have given a strong buy recommendation to the company.
Brokerages have set a twelve-month consensus price objective of $25.33 for the company and are forecasting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Monotype Imaging Holdings an industry rank of 153 out of 265 based on the ratings given to related companies.
TYPE has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. B. Riley reiterated a “buy” rating and issued a $24.00 target price on shares of Monotype Imaging Holdings in a research note on Tuesday, August 2nd.
Shares of Monotype Imaging Holdings (NASDAQ:TYPE) opened at 22.21 on Friday. Monotype Imaging Holdings has a 52 week low of $17.31 and a 52 week high of $27.76. The firm has a 50-day moving average of $21.16 and a 200 day moving average of $22.62. The firm has a market cap of $874.56 million, a PE ratio of 36.11 and a beta of 0.79.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its quarterly 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 business earned $48.70 million during the quarter, compared to analyst estimates of $48.98 million. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. Monotype Imaging Holdings’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. Equities research analysts predict that Monotype Imaging Holdings will post $1.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Monday, October 3rd will be paid a $0.11 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.44 annualized dividend and a dividend yield of 1.98%. Monotype Imaging Holdings’s payout ratio is 72.13%.
In related news, Director Douglas J. Shaw sold 25,000 shares of the stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $20.88, for a total transaction of $522,000.00. Following the completion of the transaction, the director now owns 119,897 shares in the company, valued at $2,503,449.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Scott E. Landers purchased 3,285 shares of Monotype Imaging Holdings stock in a transaction that occurred on Monday, August 1st. The shares were bought at an average price 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 of the company’s stock, valued at approximately $3,261,584.50. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in 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. raised its position in 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 raised 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 valued at $63,745,000 after buying an additional 102,924 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in 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 valued at $54,628,000 after buying an additional 76,307 shares during the last quarter. Finally, Royce & Associates LP raised its position in Monotype Imaging Holdings by 5.3% in the second quarter. Royce & Associates LP now owns 1,353,596 shares of the company’s stock valued at $33,339,000 after buying an additional 67,600 shares during the last quarter. 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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