Monotype Imaging (TYPE) Downgraded by BidaskClub to Sell

BidaskClub cut shares of Monotype Imaging (NASDAQ:TYPE) from a hold rating to a sell rating in a research report sent to investors on Friday.

A number of other research firms have also recently weighed in on TYPE. B. Riley set a $31.00 price target on Monotype Imaging and gave the stock a buy rating in a report on Thursday, September 20th. ValuEngine cut Monotype Imaging from a hold rating to a sell rating in a report on Monday, October 8th. Finally, Zacks Investment Research upgraded Monotype Imaging from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Tuesday, July 3rd. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Monotype Imaging currently has an average rating of Hold and an average target price of $26.00.

NASDAQ TYPE traded down $0.35 on Friday, hitting $18.45. 144,961 shares of the company’s stock were exchanged, compared to its average volume of 294,206. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. Monotype Imaging has a fifty-two week low of $18.41 and a fifty-two week high of $26.75. The stock has a market capitalization of $791.55 million, a price-to-earnings ratio of 34.81 and a beta of 0.96.

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

The business also recently announced a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Monday, October 1st were issued a dividend of $0.116 per share. This represents a $0.46 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, September 28th. Monotype Imaging’s dividend payout ratio (DPR) is presently 86.79%.

A number of large investors have recently made changes to their positions in TYPE. Millennium Management LLC grew its holdings in Monotype Imaging by 1,493.0% during the 1st quarter. Millennium Management LLC now owns 677,958 shares of the software maker’s stock valued at $15,220,000 after buying an additional 635,399 shares during the last quarter. BlackRock Inc. grew its holdings in Monotype Imaging by 8.3% during the 2nd 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 during the last quarter. Citadel Advisors LLC grew its holdings in Monotype Imaging by 67.7% during the 2nd quarter. Citadel Advisors LLC now owns 423,890 shares of the software maker’s stock valued at $8,605,000 after buying an additional 171,073 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Monotype Imaging by 186.6% during the 1st quarter. Wells Fargo & Company MN now owns 202,994 shares of the software maker’s stock valued at $4,558,000 after buying an additional 132,155 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Monotype Imaging by 17.8% during the 2nd quarter. Renaissance Technologies LLC now owns 553,209 shares of the software maker’s stock valued at $11,230,000 after buying an additional 83,409 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

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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