Monotype Imaging Holdings Inc. (NASDAQ:TYPE) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.17-0.22 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.26. The company issued revenue guidance of $49.5-53.5 million, compared to the consensus revenue estimate of $51.42 million.
Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) traded down 6.05% on Tuesday, hitting $20.49. 371,253 shares of the stock traded hands. The company’s 50 day moving average is $21.27 and its 200 day moving average is $22.57. The stock has a market cap of $806.83 million, a price-to-earnings ratio of 33.32 and a beta of 0.90. Monotype Imaging Holdings Inc. has a one year low of $17.31 and a one year high of $27.76.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping 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 analyst estimates of $48.98 million. During the same period in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts forecast that Monotype Imaging Holdings Inc. will post $1.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.44 annualized dividend and a yield of 2.02%. Monotype Imaging Holdings’s dividend payout ratio (DPR) is currently 72.13%.
Several brokerages have commented on TYPE. Zacks Investment Research raised Monotype Imaging Holdings from a sell rating to a hold rating in a research report on Tuesday, July 5th. 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. One research 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’s stock. The company presently has an average rating of Hold and a consensus price target of $27.80.
In other news, VP Steven R. Martin sold 7,990 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $24.94, for a total transaction of $199,270.60. Following the sale, the vice president now directly owns 91,873 shares in the company, valued at $2,291,312.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Douglas J. Shaw sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $20.88, for a total value of $522,000.00. Following the sale, the director now owns 119,897 shares in the company, valued at $2,503,449.36. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Fiera Capital Corp boosted its stake in Monotype Imaging Holdings by 6.6% in the second quarter. Fiera Capital Corp now owns 38,900 shares of the company’s stock worth $958,000 after buying an additional 2,400 shares in the last quarter. Arizona State Retirement System boosted its stake in Monotype Imaging Holdings by 2.9% in the second quarter. Arizona State Retirement System now owns 21,100 shares of the company’s stock worth $520,000 after buying an additional 600 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Monotype Imaging Holdings by 11.6% in the second quarter. Parametric Portfolio Associates LLC now owns 187,460 shares of the company’s stock worth $4,617,000 after buying an additional 19,444 shares in the last quarter. Menta Capital LLC boosted its stake in Monotype Imaging Holdings by 137.9% in the second quarter. Menta Capital LLC now owns 34,357 shares of the company’s stock worth $846,000 after buying an additional 19,917 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Monotype Imaging Holdings by 631.1% in the second quarter. Citadel Advisors LLC now owns 68,059 shares of the company’s stock worth $1,677,000 after buying an additional 58,750 shares in the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.
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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