Monotype Imaging Holdings Inc. (TYPE) Short Interest Update
Monotype Imaging Holdings Inc. (NASDAQ:TYPE) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,474,384 shares, an increase of 31.4% from the August 31st total of 1,122,161 shares. Based on an average daily volume of 523,316 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.6% of the company’s stock are sold short.
A number of brokerages have weighed in on TYPE. B. Riley restated a “neutral” rating and set a $20.00 price objective on shares of Monotype Imaging Holdings in a research note on Monday, July 31st. Zacks Investment Research upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. ValuEngine upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, BidaskClub upgraded Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Five analysts have rated the stock with a hold rating, Monotype Imaging Holdings currently has an average rating of “Hold” and a consensus price target of $20.50.
Shares of Monotype Imaging Holdings (TYPE) opened at 19.575 on Thursday. Monotype Imaging Holdings has a 52 week low of $15.75 and a 52 week high of $24.45. The firm has a market cap of $776.29 million, a price-to-earnings ratio of 675.000 and a beta of 0.93. The firm’s 50-day moving average price is $18.88 and its 200-day moving average price is $19.17.
Monotype Imaging Holdings (NASDAQ:TYPE) last posted its quarterly earnings data on Friday, July 28th. The software maker reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.06. Monotype Imaging Holdings had a return on equity of 3.51% and a net margin of 0.61%. The business had revenue of $58.70 million during the quarter, compared to analysts’ expectations of $54.36 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. Equities research analysts expect that Monotype Imaging Holdings will post $0.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Monday, October 2nd will be given a dividend of $0.113 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $0.45 annualized dividend and a dividend yield of 2.31%. Monotype Imaging Holdings’s dividend payout ratio is presently 1,500.50%.
In other Monotype Imaging Holdings news, Director Roger J. Heinen, Jr. sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $18.60, for a total transaction of $27,900.00. Following the completion of the sale, the director now owns 29,140 shares in the company, valued at approximately $542,004. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 6,000 shares of company stock valued at $110,700. 2.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP increased its stake in Monotype Imaging Holdings by 139.8% during the second quarter. Susquehanna International Group LLP now owns 20,152 shares of the software maker’s stock valued at $369,000 after acquiring an additional 70,752 shares during the period. State Street Corp increased its stake in Monotype Imaging Holdings by 0.3% during the second quarter. State Street Corp now owns 1,048,771 shares of the software maker’s stock valued at $19,194,000 after acquiring an additional 3,201 shares during the period. Royal Bank of Canada increased its stake in Monotype Imaging Holdings by 0.9% during the second quarter. Royal Bank of Canada now owns 81,759 shares of the software maker’s stock valued at $1,496,000 after acquiring an additional 739 shares during the period. Goldman Sachs Group Inc. increased its stake in Monotype Imaging Holdings by 8.9% during the second quarter. Goldman Sachs Group Inc. now owns 59,867 shares of the software maker’s stock valued at $1,096,000 after acquiring an additional 4,871 shares during the period. Finally, Stifel Financial Corp increased its stake in Monotype Imaging Holdings by 5.4% during the second quarter. Stifel Financial Corp now owns 110,727 shares of the software maker’s stock valued at $2,027,000 after acquiring an additional 5,707 shares during the period. Hedge funds and other institutional investors own 90.33% of the company’s stock.
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Monotype Imaging Holdings Company Profile
Monotype Imaging Holdings Inc is engaged in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. It organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM).
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