Bank of America Corp DE decreased its position in shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 22.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,197 shares of the software maker’s stock after selling 7,676 shares during the period. Bank of America Corp DE owned approximately 0.06% of Monotype Imaging worth $552,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Monotype Imaging by 17.8% during the second quarter. Renaissance Technologies LLC now owns 553,209 shares of the software maker’s stock valued at $11,230,000 after purchasing an additional 83,409 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Monotype Imaging during the second quarter valued at about $199,000. Bank of Montreal Can raised its position in Monotype Imaging by 2,500.0% during the second quarter. Bank of Montreal Can now owns 51,584 shares of the software maker’s stock valued at $1,047,000 after purchasing an additional 49,600 shares in the last quarter. Trigran Investments Inc. raised its position in Monotype Imaging by 1.8% during the second quarter. Trigran Investments Inc. now owns 2,157,734 shares of the software maker’s stock valued at $43,802,000 after purchasing an additional 39,078 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in Monotype Imaging during the second quarter valued at about $398,000. Institutional investors and hedge funds own 93.28% of the company’s stock.
A number of research firms have weighed in on TYPE. BidaskClub upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. B. Riley set a $31.00 price objective on Monotype Imaging and gave the company a “buy” rating in a research note on Thursday, September 20th. ValuEngine cut Monotype Imaging from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. raised Monotype Imaging from an “underweight” rating to a “neutral” rating in a research note on Friday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $26.00.
Monotype Imaging (NASDAQ:TYPE) last announced its quarterly earnings data on Friday, November 2nd. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $59.65 million. During the same period last year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Monotype Imaging Holdings Inc. will post 0.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Wednesday, January 2nd will be paid 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 dividend yield of 2.69%. Monotype Imaging’s dividend payout ratio (DPR) is currently 86.79%.
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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.
Further Reading: Cost of Equity For A Business, Investors
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