Meeder Asset Management Inc. Buys 11,819 Shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE)

Meeder Asset Management Inc. boosted its stake in Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 85.4% in the second quarter, HoldingsChannel reports. The firm owned 25,662 shares of the software maker’s stock after acquiring an additional 11,819 shares during the period. Meeder Asset Management Inc.’s holdings in Monotype Imaging were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TYPE. Chicago Equity Partners LLC increased its stake in shares of Monotype Imaging by 278.5% during the second quarter. Chicago Equity Partners LLC now owns 103,885 shares of the software maker’s stock worth $1,749,000 after purchasing an additional 76,435 shares during the period. Swiss National Bank increased its stake in shares of Monotype Imaging by 14.0% during the second quarter. Swiss National Bank now owns 76,400 shares of the software maker’s stock worth $1,287,000 after purchasing an additional 9,400 shares during the period. CWM LLC increased its stake in shares of Monotype Imaging by 32.8% during the second quarter. CWM LLC now owns 298,438 shares of the software maker’s stock worth $5,026,000 after purchasing an additional 73,791 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Monotype Imaging by 49.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 18,180 shares of the software maker’s stock worth $306,000 after purchasing an additional 6,000 shares during the period. Finally, Aperio Group LLC bought a new position in shares of Monotype Imaging during the second quarter worth approximately $197,000. Institutional investors and hedge funds own 92.93% of the company’s stock.

A number of equities analysts have commented on TYPE shares. B. Riley restated a “neutral” rating and set a $17.50 price objective (down previously from $26.00) on shares of Monotype Imaging in a research note on Monday, April 29th. ValuEngine upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Dougherty & Co lowered Monotype Imaging from a “buy” rating to a “neutral” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded Monotype Imaging from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. set a $20.00 price objective on Monotype Imaging and gave the stock a “hold” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.17.

Shares of TYPE stock opened at $19.95 on Friday. The stock’s fifty day moving average price is $18.64 and its two-hundred day moving average price is $18.34. The company has a market cap of $820.40 million, a PE ratio of 25.58 and a beta of 1.00. Monotype Imaging Holdings Inc. has a fifty-two week low of $15.29 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.30 and a current ratio of 2.30.

Monotype Imaging (NASDAQ:TYPE) last issued its earnings results on Friday, July 26th. The software maker reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.19. The firm had revenue of $63.24 million for the quarter, compared to the consensus estimate of $57.35 million. Monotype Imaging had a return on equity of 10.65% and a net margin of 10.28%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. On average, equities analysts predict that Monotype Imaging Holdings Inc. will post 1.02 EPS for the current fiscal year.

Monotype Imaging Profile

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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Institutional Ownership by Quarter for Monotype Imaging (NASDAQ:TYPE)

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