Zacks Investment Research Lowers Monotype Imaging (TYPE) to Sell

Monotype Imaging (NASDAQ:TYPE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

According to Zacks, “Monotype is a leader in empowering expression and engagement through a combination of type, technology and expertise. Headquartered in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. The company’s libraries and e-commerce sites are home to many of the most widely used typefaces – including the Helvetica, Frutiger and Univers families – as well as the next generation of type designs. Monotype provides the design assets, technology and expertise that help you create beautiful, authentic and impactful brands that customers will engage with and value, wherever they experience your brand, now and in the future. Their fonts and technologies are designed to enable creative expression and give brands a distinct global voice. They are behind the text you read in newspapers and books, in the apps on your phone, in the websites you browse, on the dashboard you scan, on the goods you buy, and in the games you play. “

TYPE has been the subject of several other reports. BidaskClub upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. B. Riley boosted their price objective on Monotype Imaging from $20.00 to $24.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. JPMorgan Chase & Co. downgraded Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a research report on Tuesday, December 12th. Finally, ValuEngine downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company currently has an average rating of “Sell” and an average target price of $23.17.

Shares of Monotype Imaging (NASDAQ:TYPE) traded up $0.20 during midday trading on Friday, hitting $23.10. The stock had a trading volume of 183,685 shares, compared to its average volume of 156,962. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market capitalization of $955.72, a P/E ratio of 120.53, a PEG ratio of 3.39 and a beta of 0.87. Monotype Imaging has a fifty-two week low of $15.75 and a fifty-two week high of $25.77.

In other Monotype Imaging news, VP Janet M. Dunlap sold 8,063 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $25.00, for a total value of $201,575.00. Following the completion of the sale, the vice president now directly owns 92,913 shares in the company, valued at $2,322,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Janet M. Dunlap sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer now owns 90,008 shares of the company’s stock, valued at $2,250,200. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Inc. lifted its position in Monotype Imaging by 85.7% in the second quarter. Advisor Group Inc. now owns 6,981 shares of the software maker’s stock worth $127,000 after purchasing an additional 3,222 shares during the period. Aperio Group LLC acquired a new stake in Monotype Imaging in the fourth quarter worth approximately $202,000. Levin Capital Strategies L.P. acquired a new stake in Monotype Imaging in the fourth quarter worth approximately $205,000. First Manhattan Co. lifted its position in Monotype Imaging by 30.0% in the fourth quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock worth $313,000 after purchasing an additional 3,000 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Monotype Imaging in the fourth quarter worth approximately $350,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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Monotype Imaging Company Profile

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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