Monotype Imaging (TYPE) Given Consensus Rating of “Hold” by Brokerages

Monotype Imaging (NASDAQ:TYPE) has been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $27.33.

A number of brokerages have recently weighed in on TYPE. Zacks Investment Research raised Monotype Imaging from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, February 27th. TheStreet raised Monotype Imaging from a “c” rating to a “b” rating in a report on Friday, February 16th. ValuEngine raised Monotype Imaging from a “sell” rating to a “hold” rating in a report on Tuesday, February 20th. B. Riley raised Monotype Imaging from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.50 to $31.00 in a report on Tuesday, February 20th. Finally, BidaskClub raised Monotype Imaging from a “sell” rating to a “hold” rating in a report on Monday, February 5th.

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NASDAQ:TYPE traded up $0.10 during mid-day trading on Thursday, hitting $23.60. 599,892 shares of the company’s stock traded hands, compared to its average volume of 285,025. Monotype Imaging has a twelve month low of $15.75 and a twelve month high of $26.75. The firm has a market capitalization of $988.01, a P/E ratio of 44.34, a P/E/G ratio of 3.13 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.26 and a quick ratio of 2.26.



Monotype Imaging (NASDAQ:TYPE) last announced its earnings results on Friday, February 16th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.31. The company had revenue of $65.02 million for the quarter, compared to analyst estimates of $62.45 million. Monotype Imaging had a return on equity of 6.10% and a net margin of 4.90%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 EPS. analysts expect that Monotype Imaging will post 0.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Monday, April 2nd will be issued a $0.116 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This is a positive change from Monotype Imaging’s previous quarterly dividend of $0.11. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.97%. Monotype Imaging’s dividend payout ratio is currently 86.79%.

In other news, EVP Steven R. Martin sold 29,000 shares of the company’s stock in a transaction dated Monday, March 26th. The stock was sold at an average price of $22.93, for a total value of $664,970.00. Following the sale, the executive vice president now owns 145,036 shares in the company, valued at $3,325,675.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Janet M. Dunlap sold 1,187 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.00, for a total value of $29,675.00. Following the completion of the sale, the chief accounting officer now owns 88,821 shares in the company, valued at approximately $2,220,525. The disclosure for this sale can be found here. Insiders sold 53,130 shares of company stock worth $1,203,421 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Monotype Imaging by 2.6% in the fourth quarter. BlackRock Inc. now owns 5,274,954 shares of the software maker’s stock worth $127,127,000 after buying an additional 132,390 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Monotype Imaging by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,429,976 shares of the software maker’s stock worth $27,527,000 after purchasing an additional 13,869 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Monotype Imaging by 686.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 863,476 shares of the software maker’s stock worth $20,810,000 after purchasing an additional 753,637 shares in the last quarter. Fondren Management LP boosted its position in Monotype Imaging by 9.8% during the fourth quarter. Fondren Management LP now owns 851,137 shares of the software maker’s stock worth $20,512,000 after purchasing an additional 75,830 shares in the last quarter. Finally, WCM Investment Management CA boosted its position in Monotype Imaging by 494.8% during the fourth quarter. WCM Investment Management CA now owns 354,414 shares of the software maker’s stock worth $8,541,000 after purchasing an additional 294,825 shares in the last quarter. Hedge funds and other institutional investors own 92.16% of the company’s stock.

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About Monotype Imaging

Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).

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