Monotype Imaging (TYPE) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Monotype Imaging (NASDAQ:TYPE) from a hold rating to a buy rating in a research note published on Tuesday, BidAskClub reports.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. set a $20.00 target price on Monotype Imaging and gave the stock a hold rating in a report on Friday, April 26th. B. Riley reiterated a neutral rating and issued a $17.50 target price (down from $26.00) on shares of Monotype Imaging in a report on Monday, April 29th. Zacks Investment Research upgraded Monotype Imaging from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a report on Friday, May 3rd. TheStreet downgraded Monotype Imaging from a b- rating to a c rating in a report on Friday, May 3rd. Finally, ValuEngine upgraded Monotype Imaging from a sell rating to a hold rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $19.17.

Monotype Imaging stock opened at $16.74 on Tuesday. The company has a market capitalization of $697.14 million, a P/E ratio of 21.46 and a beta of 1.00. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.22. Monotype Imaging has a one year low of $15.29 and a one year high of $22.55.



Monotype Imaging (NASDAQ:TYPE) last issued its earnings results on Friday, April 26th. The software maker reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. The business had revenue of $51.36 million during the quarter, compared to the consensus estimate of $57.84 million. Monotype Imaging had a return on equity of 9.44% and a net margin of 6.54%. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. Equities analysts predict that Monotype Imaging will post 0.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Monday, July 1st will be issued a $0.116 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.46 dividend on an annualized basis and a yield of 2.77%. Monotype Imaging’s payout ratio is currently 58.97%.

In other news, EVP Benjamin W.L. Semmes III sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.00, for a total transaction of $168,000.00. Following the completion of the sale, the executive vice president now owns 170,820 shares in the company, valued at $3,587,220. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYPE. Bank of New York Mellon Corp lifted its position in shares of Monotype Imaging by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 625,656 shares of the software maker’s stock worth $12,639,000 after buying an additional 42,740 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Monotype Imaging by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 164,265 shares of the software maker’s stock worth $3,318,000 after buying an additional 16,191 shares during the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Monotype Imaging by 57.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 29,195 shares of the software maker’s stock worth $590,000 after buying an additional 10,603 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Monotype Imaging by 18.4% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 189,223 shares of the software maker’s stock worth $3,822,000 after buying an additional 29,463 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Monotype Imaging by 7.9% in the 3rd quarter. Legal & General Group Plc now owns 100,222 shares of the software maker’s stock worth $2,021,000 after buying an additional 7,305 shares during the last quarter. Hedge funds and other institutional investors own 92.01% of the company’s stock.

About Monotype Imaging

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company's solutions include type intellectual property (IP), enterprise software for visual content marketing solutions, custom type design services, and tools and technologies through direct sales channels, e-commerce platforms, and partner platforms.

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