Brokerages Set Monotype Imaging (TYPE) PT at $27.33

Monotype Imaging (NASDAQ:TYPE) has earned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $27.33.

TYPE has been the subject of a number of research analyst reports. Zacks Investment Research raised Monotype Imaging from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Tuesday, February 27th. BidaskClub cut Monotype Imaging from a “hold” rating to a “sell” rating in a report on Friday, January 26th. B. Riley raised Monotype Imaging from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.50 to $31.00 in a report on Tuesday, February 20th. ValuEngine cut Monotype Imaging from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. Finally, TheStreet raised Monotype Imaging from a “c” rating to a “b” rating in a report on Friday, February 16th.

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TYPE stock traded up $0.10 during mid-day trading on Thursday, reaching $23.60. 599,892 shares of the company’s stock were exchanged, compared to its average volume of 285,025. The company 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 current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. Monotype Imaging has a 12-month low of $15.75 and a 12-month high of $26.75.

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

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

In related news, EVP Steven R. Martin sold 21,943 shares of the stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $22.17, for a total value of $486,476.31. Following the completion of the sale, the executive vice president now owns 116,488 shares of the company’s stock, valued at $2,582,538.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Steven R. Martin sold 29,000 shares of the stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $22.93, for a total value of $664,970.00. Following the completion of the sale, the executive vice president now directly owns 145,036 shares of the company’s stock, valued at approximately $3,325,675.48. The disclosure for this sale can be found here. Insiders have sold 53,130 shares of company stock valued at $1,203,421 in the last three months. Insiders own 3.40% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. First Manhattan Co. increased its holdings in shares of Monotype Imaging by 30.0% in the fourth quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock valued at $313,000 after purchasing an additional 3,000 shares during the last quarter. Confluence Investment Management LLC increased its stake in Monotype Imaging by 2.1% during the fourth quarter. Confluence Investment Management LLC now owns 203,244 shares of the software maker’s stock worth $4,898,000 after acquiring an additional 4,254 shares during the last quarter. Elkfork Partners LLC acquired a new stake in Monotype Imaging during the fourth quarter worth $109,000. Swiss National Bank increased its stake in Monotype Imaging by 7.3% during the fourth quarter. Swiss National Bank now owns 73,500 shares of the software maker’s stock worth $1,771,000 after acquiring an additional 5,000 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Monotype Imaging by 17.8% during the fourth quarter. California Public Employees Retirement System now owns 46,922 shares of the software maker’s stock worth $1,131,000 after acquiring an additional 7,096 shares during the last quarter. 92.16% of the stock is owned by hedge funds and other institutional investors.

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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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