Monotype Imaging Holdings Inc. (NASDAQ:TYPE)‘s stock had its “buy” rating restated by research analysts at B. Riley in a note issued to investors on Sunday. They presently have a $24.00 target price on the stock. B. Riley’s price target would suggest a potential upside of 12.94% from the stock’s current price.
Separately, Zacks Investment Research raised shares of Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $27.80.
Monotype Imaging Holdings (NASDAQ:TYPE) opened at 21.25 on Friday. The firm has a market capitalization of $836.76 million, a P/E 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 firm’s 50-day moving average is $21.23 and its 200 day moving average is $22.51.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $48.98 million. Monotype Imaging Holdings had a net margin of 12.46% and a return on equity of 11.28%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Equities analysts anticipate that Monotype Imaging Holdings will post $0.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Monday, October 3rd will be given 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 2.07%. Monotype Imaging Holdings’s dividend payout ratio is currently 72.13%.
In related news, COO Scott E. Landers acquired 3,285 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas J. Shaw sold 25,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 119,897 shares in the company, valued at $2,503,449.36. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC acquired a new stake in shares of Monotype Imaging Holdings during the second quarter valued at about $196,000. Royal Bank of Canada raised its stake in shares of Monotype Imaging Holdings by 3.7% in the second quarter. Royal Bank of Canada now owns 53,785 shares of the company’s stock valued at $1,323,000 after buying an additional 1,898 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Monotype Imaging Holdings by 1.9% in the second quarter. Sterling Capital Management LLC now owns 65,531 shares of the company’s stock valued at $1,614,000 after buying an additional 1,200 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Monotype Imaging Holdings by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 136,336 shares of the company’s stock valued at $3,358,000 after buying an additional 2,376 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Monotype Imaging Holdings by 14.9% in the second quarter. Stifel Financial Corp now owns 53,448 shares of the company’s stock valued at $1,317,000 after buying an additional 6,933 shares during the last quarter. 93.58% of the stock is currently owned by institutional investors and hedge funds.
About Monotype Imaging Holdings