B. Riley set a $31.00 price objective on Monotype Imaging (NASDAQ:TYPE) in a report released on Tuesday morning. The brokerage currently has a buy rating on the software maker’s stock.
A number of other research firms also recently issued reports on TYPE. BidaskClub raised Monotype Imaging from a sell rating to a hold rating in a research report on Wednesday, August 15th. ValuEngine downgraded Monotype Imaging from a buy rating to a hold rating in a research report on Monday, July 2nd. Finally, Zacks Investment Research raised 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. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Monotype Imaging currently has a consensus rating of Hold and a consensus price target of $26.00.
Shares of NASDAQ:TYPE traded up $1.32 during midday trading on Tuesday, reaching $19.00. The company’s stock had a trading volume of 29,027 shares, compared to its average volume of 213,263. The company has a market cap of $741.45 million, a P/E ratio of 35.79 and a beta of 0.96. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.25. Monotype Imaging has a 1 year low of $17.27 and a 1 year high of $26.75.
Monotype Imaging (NASDAQ:TYPE) last announced its quarterly earnings data on Friday, November 2nd. The software maker reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $58.00 million during the quarter, compared to the consensus estimate of $59.65 million. Monotype Imaging had a return on equity of 8.88% and a net margin of 5.19%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Sell-side analysts expect that Monotype Imaging will post 0.58 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of TYPE. Wells Fargo & Company MN grew its position in Monotype Imaging by 186.6% during the first quarter. Wells Fargo & Company MN now owns 202,994 shares of the software maker’s stock valued at $4,558,000 after acquiring an additional 132,155 shares during the period. JPMorgan Chase & Co. grew its position in Monotype Imaging by 15.8% during the first quarter. JPMorgan Chase & Co. now owns 176,050 shares of the software maker’s stock valued at $3,952,000 after acquiring an additional 24,036 shares during the period. Russell Investments Group Ltd. purchased a new stake in Monotype Imaging during the first quarter valued at about $262,000. Principal Financial Group Inc. lifted its stake in shares of Monotype Imaging by 2.0% during the first quarter. Principal Financial Group Inc. now owns 318,558 shares of the software maker’s stock worth $7,152,000 after purchasing an additional 6,262 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Monotype Imaging by 1,493.0% during the first quarter. Millennium Management LLC now owns 677,958 shares of the software maker’s stock worth $15,220,000 after purchasing an additional 635,399 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.
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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