Monotype Imaging (NASDAQ:TYPE) Sees Large Volume Increase

Monotype Imaging Holdings Inc. (NASDAQ:TYPE) saw strong trading volume on Friday . 6,234,631 shares traded hands during mid-day trading, an increase of 1,759% from the previous session’s volume of 335,361 shares.The stock last traded at $20.00 and had previously closed at $16.16.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Dougherty & Co restated a “buy” rating and issued a $37.00 target price (down previously from $38.00) on shares of Vocera Communications in a report on Friday. B. Riley restated a “buy” rating on shares of Insight Enterprises in a report on Monday, April 29th. BidaskClub cut shares of Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, TheStreet cut shares of Viewray from a “c-” rating to a “d” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.17.

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.22. The company has a market cap of $692.59 million, a P/E ratio of 25.64 and a beta of 0.96. The business has a fifty day moving average of $16.84.

Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings results on Friday, April 26th. The software maker reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. Monotype Imaging had a net margin of 6.54% and a return on equity of 9.44%. The business had revenue of $51.36 million for the quarter, compared to the consensus estimate of $57.84 million. During the same period last year, the firm earned $0.22 earnings per share. The company’s quarterly revenue was down 9.4% on a year-over-year basis. On average, equities analysts expect that Monotype Imaging Holdings Inc. will post 0.98 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, July 1st were given a $0.116 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.46 annualized dividend and a yield of 2.32%. Monotype Imaging’s payout ratio is presently 58.97%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYPE. 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. Bank of New York Mellon Corp raised its position in Monotype Imaging by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 633,144 shares of the software maker’s stock worth $9,826,000 after acquiring an additional 7,488 shares during the period. Dimensional Fund Advisors LP raised its position in Monotype Imaging by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,568,675 shares of the software maker’s stock worth $24,346,000 after acquiring an additional 55,594 shares during the period. Geode Capital Management LLC raised its position in Monotype Imaging by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 478,540 shares of the software maker’s stock worth $7,426,000 after acquiring an additional 21,081 shares during the period. Finally, Stone Ridge Asset Management LLC bought a new position in Monotype Imaging in the fourth quarter worth approximately $233,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Monotype Imaging (NASDAQ:TYPE)

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company's solutions include type intellectual property (IP), enterprise software for visual content marketing solutions, custom type design services, and tools and technologies through direct sales channels, e-commerce platforms, and partner platforms.

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