Monotype Imaging (TYPE) Lowered to Sell at ValuEngine

Monotype Imaging (NASDAQ:TYPE) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday.

Several other equities analysts have also commented on TYPE. BidaskClub upgraded shares of Monotype Imaging from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Monotype Imaging from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, July 3rd. Finally, B. Riley set a $31.00 target price on shares of Monotype Imaging and gave the company a “buy” rating in a research report on Thursday, September 20th. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.00.

Shares of Monotype Imaging stock traded down $0.28 during trading on Monday, hitting $19.52. 213,300 shares of the stock were exchanged, compared to its average volume of 255,899. The firm has a market capitalization of $850.50 million, a P/E ratio of 36.83 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 2.69. Monotype Imaging has a 12 month low of $19.42 and a 12 month high of $26.75.

Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings results on Friday, July 27th. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.11 by $0.19. The business had revenue of $60.69 million during the quarter, compared to analyst estimates of $59.64 million. Monotype Imaging had a net margin of 5.19% and a return on equity of 8.88%. The company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. As a group, sell-side analysts forecast that Monotype Imaging will post 0.58 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC bought a new position in Monotype Imaging in the 2nd quarter valued at about $199,000. Confluence Investment Management LLC grew its position in Monotype Imaging by 23.9% in the 2nd quarter. Confluence Investment Management LLC now owns 258,561 shares of the software maker’s stock valued at $5,249,000 after buying an additional 49,907 shares in the last quarter. Bank of Montreal Can grew its position in Monotype Imaging by 2,500.0% in the 2nd quarter. Bank of Montreal Can now owns 51,584 shares of the software maker’s stock valued at $1,047,000 after buying an additional 49,600 shares in the last quarter. Trigran Investments Inc. grew its position in Monotype Imaging by 1.8% in the 2nd quarter. Trigran Investments Inc. now owns 2,157,734 shares of the software maker’s stock valued at $43,802,000 after buying an additional 39,078 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in Monotype Imaging in the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

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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