Brokerages Set Monotype Imaging Holdings Inc. (TYPE) Target Price at $27.00

Monotype Imaging Holdings Inc. (NASDAQ:TYPE) has received an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $27.00.

A number of research analysts recently weighed in on TYPE shares. BidaskClub lowered shares of Monotype Imaging from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. B. Riley set a $31.00 price objective on shares of Monotype Imaging and gave the company a “buy” rating in a research note on Tuesday, October 30th. JPMorgan Chase & Co. upgraded shares of Monotype Imaging from an “underweight” rating to a “neutral” rating in a report on Friday, November 2nd. Finally, ValuEngine raised shares of Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Thursday, December 6th.

NASDAQ:TYPE traded up $0.12 on Wednesday, hitting $17.01. The company had a trading volume of 1,833 shares, compared to its average volume of 185,736. The company has a market cap of $701.61 million, a price-to-earnings ratio of 32.13 and a beta of 0.99. Monotype Imaging has a 52 week low of $15.29 and a 52 week high of $26.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.62 and a quick ratio of 2.62.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Monotype Imaging by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 633,144 shares of the software maker’s stock valued at $9,826,000 after purchasing an additional 7,488 shares during the last quarter. Summit Global Investments acquired a new position in shares of Monotype Imaging during the fourth quarter valued at about $641,000. Pearl River Capital LLC bought a new position in shares of Monotype Imaging during the fourth quarter valued at about $53,000. California Public Employees Retirement System raised its position in Monotype Imaging by 55.4% in the fourth quarter. California Public Employees Retirement System now owns 67,689 shares of the software maker’s stock worth $1,051,000 after acquiring an additional 24,134 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of Monotype Imaging by 8.7% in the fourth quarter. Prudential Financial Inc. now owns 241,538 shares of the software maker’s stock valued at $3,749,000 after purchasing an additional 19,298 shares during the period. 90.39% 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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