Monotype Imaging Holdings Inc. (NASDAQ:TYPE) Receives $18.75 Consensus Price Target from Brokerages

Monotype Imaging Holdings Inc. (NASDAQ:TYPE) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.75.

A number of research analysts recently weighed in on TYPE shares. ValuEngine downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. BidaskClub downgraded Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $137.00 price target on shares of Continental in a research note on Friday, April 26th. B. Riley reaffirmed a “buy” rating on shares of Insight Enterprises in a research note on Monday, April 29th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

TYPE stock traded up $0.26 during trading on Friday, reaching $17.29. 111,768 shares of the stock were exchanged, compared to its average volume of 279,947. The business’s 50 day simple moving average is $16.73. Monotype Imaging has a twelve month low of $15.29 and a twelve month high of $22.30. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $704.59 million, a price-to-earnings ratio of 22.17 and a beta of 0.96.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, July 1st will be paid a $0.116 dividend. This represents a $0.46 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, June 28th. Monotype Imaging’s dividend payout ratio (DPR) is presently 58.97%.

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

Institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Monotype Imaging in the fourth quarter worth approximately $186,000. BNP Paribas Arbitrage SA grew its holdings in shares of Monotype Imaging by 338.2% in the first quarter. BNP Paribas Arbitrage SA now owns 9,409 shares of the software maker’s stock valued at $187,000 after acquiring an additional 7,262 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Monotype Imaging in the first quarter valued at approximately $200,000. Piedmont Investment Advisors Inc. bought a new position in shares of Monotype Imaging in the first quarter valued at approximately $207,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Monotype Imaging by 358.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 13,558 shares of the software maker’s stock valued at $210,000 after acquiring an additional 10,603 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

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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