Monotype Imaging (TYPE) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Monotype Imaging (NASDAQ:TYPE) from a sell rating to a hold rating in a research report released on Thursday.

A number of other brokerages have also weighed in on TYPE. B. Riley set a $31.00 price objective on shares of Monotype Imaging and gave the stock a buy rating in a report on Thursday, September 20th. BidaskClub downgraded shares of Monotype Imaging from a sell rating to a strong sell rating in a report on Thursday, November 8th. Finally, JPMorgan Chase & Co. raised shares of Monotype Imaging from an underweight rating to a neutral rating in a report on Friday, November 2nd. One equities 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’s stock. The company currently has an average rating of Hold and an average target price of $26.00.

NASDAQ TYPE opened at $17.02 on Thursday. Monotype Imaging has a twelve month low of $16.45 and a twelve month high of $26.75. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.24. The stock has a market cap of $692.10 million, a price-to-earnings ratio of 32.11 and a beta of 1.04.

Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings data on Friday, November 2nd. The software maker reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Monotype Imaging had a return on equity of 10.00% and a net margin of 6.02%. The firm had revenue of $58.00 million for the quarter, compared to the consensus estimate of $59.65 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts predict that Monotype Imaging will post 0.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Wednesday, January 2nd will be given a dividend of $0.116 per share. The ex-dividend date of this dividend is Monday, December 31st. This represents a $0.46 dividend on an annualized basis and a yield of 2.73%. Monotype Imaging’s payout ratio is presently 86.79%.

Several institutional investors have recently added to or reduced their stakes in TYPE. Russell Investments Group Ltd. increased its position in shares of Monotype Imaging by 22.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 20,393 shares of the software maker’s stock valued at $412,000 after purchasing an additional 3,788 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Monotype Imaging by 7.6% in the 3rd quarter. Bessemer Group Inc. now owns 54,900 shares of the software maker’s stock valued at $1,109,000 after purchasing an additional 3,900 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Monotype Imaging by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 101,805 shares of the software maker’s stock valued at $2,067,000 after purchasing an additional 4,110 shares in the last quarter. Spark Investment Management LLC increased its holdings in shares of Monotype Imaging by 1.4% in the 2nd quarter. Spark Investment Management LLC now owns 321,200 shares of the software maker’s stock valued at $6,520,000 after purchasing an additional 4,300 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its holdings in shares of Monotype Imaging by 21.7% in the 3rd quarter. BlueMountain Capital Management LLC now owns 29,478 shares of the software maker’s stock valued at $595,000 after purchasing an additional 5,266 shares in the last quarter. 89.70% of the stock is currently owned by institutional investors and hedge funds.

Monotype Imaging Company Profile

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.

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