Monotype Imaging (TYPE) Downgraded by ValuEngine

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

A number of other brokerages have also weighed in on TYPE. B. Riley set a $31.00 price target on shares of Monotype Imaging and gave the company a buy rating in a research note on Thursday, September 20th. BidaskClub lowered shares of Monotype Imaging from a sell rating to a strong sell rating in a research note on Thursday, November 8th. Finally, JPMorgan Chase & Co. raised shares of Monotype Imaging from an underweight rating to a neutral rating in a research note on Friday, November 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Monotype Imaging has a consensus rating of Hold and a consensus price target of $27.00.

Monotype Imaging stock opened at $16.08 on Monday. Monotype Imaging has a fifty-two week low of $15.29 and a fifty-two week high of $26.75. The company has a market cap of $662.60 million, a P/E ratio of 30.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.62 and a current ratio of 2.62.

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

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Shareholders of record on Wednesday, January 2nd will be paid a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, December 31st. Monotype Imaging’s payout ratio is currently 86.79%.

A number of institutional investors and hedge funds have recently made changes to their positions in TYPE. Rhumbline Advisers boosted its stake in Monotype Imaging by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 101,805 shares of the software maker’s stock worth $2,067,000 after acquiring an additional 4,110 shares during the last quarter. SG Americas Securities LLC lifted its stake in Monotype Imaging by 165.8% in the second quarter. SG Americas Securities LLC now owns 16,334 shares of the software maker’s stock valued at $332,000 after buying an additional 10,189 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Monotype Imaging by 42.3% in the second quarter. Russell Investments Group Ltd. now owns 16,605 shares of the software maker’s stock valued at $337,000 after buying an additional 4,935 shares in the last quarter. BlackRock Inc. lifted its stake in Monotype Imaging by 8.3% in the second quarter. BlackRock Inc. now owns 5,819,939 shares of the software maker’s stock valued at $118,145,000 after buying an additional 443,624 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Monotype Imaging by 6.1% in the second quarter. Legal & General Group Plc now owns 92,917 shares of the software maker’s stock valued at $1,884,000 after buying an additional 5,383 shares in the last quarter. 89.62% of the stock is currently 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, 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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