Comerica Bank decreased its stake in Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,777 shares of the software maker’s stock after selling 2,029 shares during the period. Comerica Bank owned approximately 0.09% of Monotype Imaging worth $658,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Martingale Asset Management L P boosted its position in shares of Monotype Imaging by 43.2% in the first quarter. Martingale Asset Management L P now owns 307,185 shares of the software maker’s stock worth $6,111,000 after buying an additional 92,627 shares during the period. Piedmont Investment Advisors Inc. purchased a new stake in shares of Monotype Imaging in the first quarter worth about $207,000. Summit Global Investments boosted its position in shares of Monotype Imaging by 3.6% in the first quarter. Summit Global Investments now owns 42,800 shares of the software maker’s stock worth $851,000 after buying an additional 1,500 shares during the period. SG Americas Securities LLC acquired a new position in shares of Monotype Imaging in the first quarter worth about $349,000. Finally, Aperio Group LLC acquired a new position in shares of Monotype Imaging in the second quarter worth about $197,000. 90.93% of the stock is owned by institutional investors.
Shares of Monotype Imaging stock remained flat at $$19.78 on Friday. The stock had a trading volume of 629,617 shares, compared to its average volume of 448,925. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.30 and a current ratio of 2.30. The stock has a fifty day moving average price of $19.71 and a 200-day moving average price of $18.56. The stock has a market capitalization of $816.90 million, a price-to-earnings ratio of 25.36 and a beta of 1.01. Monotype Imaging Holdings Inc. has a fifty-two week low of $15.29 and a fifty-two week high of $21.09.
Monotype Imaging (NASDAQ:TYPE) last issued its quarterly earnings data on Friday, July 26th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.19. Monotype Imaging had a return on equity of 10.65% and a net margin of 10.28%. The business had revenue of $63.24 million during the quarter, compared to analyst estimates of $57.35 million. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Research analysts forecast that Monotype Imaging Holdings Inc. will post 1.02 earnings per share for the current year.
Several analysts have issued reports on the company. BidaskClub cut Monotype Imaging from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Zacks Investment Research upgraded Monotype Imaging from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research note on Thursday, August 1st. ValuEngine upgraded Monotype Imaging from a “sell” rating to a “hold” rating in a research note on Saturday, July 27th. Finally, Dougherty & Co cut Monotype Imaging from a “buy” rating to a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.17.
Monotype Imaging Company Profile
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.
Read More: What Are Cryptocurrencies?
Receive News & Ratings for Monotype Imaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monotype Imaging and related companies with MarketBeat.com's FREE daily email newsletter.