Monotype Imaging (TYPE) Rating Lowered to Sell at BidaskClub

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

A number of other equities analysts also recently issued reports on TYPE. TheStreet raised shares of Monotype Imaging from a “c” rating to a “b” rating in a research note on Friday, February 16th. ValuEngine raised shares of Monotype Imaging from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Zacks Investment Research downgraded shares of Monotype Imaging from a “hold” rating to a “sell” rating in a research note on Friday, May 4th. Finally, B. Riley raised shares of Monotype Imaging from a “neutral” rating to a “buy” rating and increased their price target for the stock from $24.50 to $31.00 in a research note on Tuesday, February 20th. Three equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.33.

Monotype Imaging opened at $21.25 on Friday, MarketBeat reports. Monotype Imaging has a 1 year low of $15.75 and a 1 year high of $26.75. The stock has a market capitalization of $891.97 million, a P/E ratio of 40.09, a P/E/G ratio of 5.04 and a beta of 0.81. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings results on Friday, April 27th. The software maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.17. Monotype Imaging had a net margin of 4.76% and a return on equity of 6.99%. The company had revenue of $56.68 million during the quarter, compared to the consensus estimate of $54.81 million. During the same period in the prior year, the firm earned $0.16 earnings per share. Monotype Imaging’s revenue was up 8.0% on a year-over-year basis. equities analysts anticipate that Monotype Imaging will post 0.28 earnings per share for the current fiscal year.

In other Monotype Imaging news, EVP Steven R. Martin sold 29,000 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $22.93, for a total transaction of $664,970.00. Following the completion of the transaction, the executive vice president now owns 145,036 shares of the company’s stock, valued at $3,325,675.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven R. Martin sold 21,943 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $22.17, for a total transaction of $486,476.31. Following the transaction, the executive vice president now directly owns 116,488 shares of the company’s stock, valued at approximately $2,582,538.96. The disclosure for this sale can be found here. Insiders have sold 53,980 shares of company stock valued at $1,222,155 in the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its stake in shares of Monotype Imaging by 7.3% during the fourth quarter. Swiss National Bank now owns 73,500 shares of the software maker’s stock valued at $1,771,000 after purchasing an additional 5,000 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Monotype Imaging by 20.8% during the fourth quarter. Rice Hall James & Associates LLC now owns 166,893 shares of the software maker’s stock valued at $4,022,000 after purchasing an additional 28,702 shares in the last quarter. BlackRock Inc. increased its stake in shares of Monotype Imaging by 2.6% during the fourth quarter. BlackRock Inc. now owns 5,274,954 shares of the software maker’s stock valued at $127,127,000 after purchasing an additional 132,390 shares in the last quarter. First Manhattan Co. increased its stake in shares of Monotype Imaging by 30.0% during the fourth quarter. First Manhattan Co. now owns 13,000 shares of the software maker’s stock valued at $313,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Monotype Imaging by 22.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 201,946 shares of the software maker’s stock valued at $4,867,000 after buying an additional 36,985 shares during the last quarter. 92.00% of the stock is owned by institutional investors and hedge funds.

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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