Monotype Imaging Holdings Inc. (NASDAQ:TYPE) – Equities research analysts at B. Riley reduced their Q3 2016 EPS estimates for shares of Monotype Imaging Holdings in a research report issued on Tuesday. B. Riley analyst K. Liu now anticipates that the brokerage will post earnings of $0.12 per share for the quarter, down from their prior estimate of $0.21. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. B. Riley also issued estimates for Monotype Imaging Holdings’ Q4 2016 earnings at $0.12 EPS, FY2016 earnings at $0.63 EPS and FY2017 earnings at $0.61 EPS.
Separately, Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.25 on Thursday. The firm has a market cap of $836.76 million, a price-to-earnings ratio of 34.55 and a beta of 0.90. Monotype Imaging Holdings has a 52-week low of $17.31 and a 52-week high of $27.76. The company has a 50 day moving average price of $21.23 and a 200-day moving average price of $22.51.
Monotype Imaging Holdings (NASDAQ:TYPE) last released its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ 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 business earned $48.70 million during the quarter, compared to analyst estimates of $48.98 million. During the same quarter last year, the company posted $0.24 EPS. Monotype Imaging Holdings’s revenue for the quarter was up 5.0% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its stake in shares of Monotype Imaging Holdings by 13,635.3% in the second quarter. Riverhead Capital Management LLC now owns 638,691 shares of the company’s stock worth $29,068,000 after buying an additional 634,041 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Monotype Imaging Holdings during the second quarter worth approximately $8,281,000. Columbus Circle Investors boosted its stake in shares of Monotype Imaging Holdings by 83.3% in the second quarter. Columbus Circle Investors now owns 690,730 shares of the company’s stock worth $17,013,000 after buying an additional 313,844 shares during the period. Brown Advisory Inc. boosted its stake in shares of Monotype Imaging Holdings by 31.2% in the second quarter. Brown Advisory Inc. now owns 1,031,220 shares of the company’s stock worth $25,399,000 after buying an additional 245,494 shares during the period. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in shares of Monotype Imaging Holdings by 62.4% in the second quarter. Neumeier Poma Investment Counsel LLC now owns 514,475 shares of the company’s stock worth $12,672,000 after buying an additional 197,750 shares during the period. Institutional investors own 93.58% of the company’s stock.
In other news, Director Douglas J. Shaw sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $20.90, for a total transaction of $522,500.00. Following the completion of the sale, the director now owns 94,897 shares in the company, valued at $1,983,347.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Benjamin W.L. Semmes III bought 12,500 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were purchased at an average price of $20.49 per share, with a total value of $256,125.00. Following the transaction, the executive vice president now owns 62,163 shares of the company’s stock, valued at $1,273,719.87. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.
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 given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.07%. Monotype Imaging Holdings’s payout ratio is currently 72.13%.
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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