Monotype Imaging (TYPE) Upgraded by BidaskClub to Hold

BidaskClub upgraded shares of Monotype Imaging (NASDAQ:TYPE) from a sell rating to a hold rating in a report released on Friday.

A number of other equities analysts also recently issued reports on TYPE. Zacks Investment Research upgraded Monotype Imaging from a hold rating to a buy rating and set a $23.00 price objective for the company in a report on Tuesday, July 3rd. ValuEngine downgraded Monotype Imaging from a hold rating to a sell rating in a report on Monday, October 8th. Finally, B. Riley set a $31.00 price objective on Monotype Imaging and gave the stock a buy rating in a report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Monotype Imaging presently has a consensus rating of Hold and an average price target of $26.00.

TYPE traded down $0.21 during trading on Friday, reaching $18.74. The stock had a trading volume of 298,556 shares, compared to its average volume of 256,738. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. The company has a market cap of $850.50 million, a price-to-earnings ratio of 35.36 and a beta of 0.96. Monotype Imaging has a one year low of $18.69 and a one year high of $26.75.

Monotype Imaging (NASDAQ:TYPE) last posted its quarterly earnings data on Friday, July 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.19. The business had revenue of $60.69 million during the quarter, compared to the consensus estimate of $59.64 million. Monotype Imaging had a return on equity of 8.88% and a net margin of 5.19%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, analysts predict that Monotype Imaging will post 0.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Monday, October 1st will be paid a $0.116 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.48%. Monotype Imaging’s dividend payout ratio is currently 86.79%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Monotype Imaging by 4.2% during the second quarter. Rhumbline Advisers now owns 101,805 shares of the software maker’s stock valued at $2,067,000 after buying an additional 4,110 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Monotype Imaging by 9.2% during the second quarter. Bessemer Group Inc. now owns 51,000 shares of the software maker’s stock valued at $1,035,000 after buying an additional 4,300 shares during the last quarter. Spark Investment Management LLC boosted its position in shares of Monotype Imaging by 1.4% during the second quarter. Spark Investment Management LLC now owns 321,200 shares of the software maker’s stock valued at $6,520,000 after buying an additional 4,300 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Monotype Imaging by 42.3% during the second quarter. Russell Investments Group Ltd. now owns 16,605 shares of the software maker’s stock valued at $337,000 after buying an additional 4,935 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Monotype Imaging by 51.4% during the second quarter. Xact Kapitalforvaltning AB now owns 15,602 shares of the software maker’s stock valued at $317,000 after buying an additional 5,300 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Monotype Imaging Company Profile

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.

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