Bank of New York Mellon Corp lessened its holdings in shares of Monotype Imaging Holdings Inc. (NASDAQ:TYPE) by 24.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 640,270 shares of the software maker’s stock after selling 206,266 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.53% of Monotype Imaging worth $12,325,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in TYPE. Pinebridge Investments L.P. increased its position in Monotype Imaging by 2.4% during the second quarter. Pinebridge Investments L.P. now owns 5,514 shares of the software maker’s stock worth $101,000 after buying an additional 131 shares during the last quarter. Advisor Group Inc. increased its position in Monotype Imaging by 85.7% during the second quarter. Advisor Group Inc. now owns 6,981 shares of the software maker’s stock worth $127,000 after buying an additional 3,222 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in Monotype Imaging by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the software maker’s stock worth $181,000 after buying an additional 380 shares during the last quarter. Menta Capital LLC acquired a new position in Monotype Imaging during the second quarter worth approximately $197,000. Finally, BNP Paribas Arbitrage SA increased its position in Monotype Imaging by 57.2% during the second quarter. BNP Paribas Arbitrage SA now owns 13,474 shares of the software maker’s stock worth $247,000 after buying an additional 4,905 shares during the last quarter. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Janet M. Dunlap sold 8,063 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $25.00, for a total value of $201,575.00. Following the transaction, the vice president now owns 92,913 shares of the company’s stock, valued at $2,322,825. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Monotype Imaging (NASDAQ:TYPE) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Monotype Imaging had a return on equity of 2.47% and a net margin of 0.06%. The company had revenue of $60.50 million for the quarter, compared to the consensus estimate of $59.35 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. sell-side analysts expect that Monotype Imaging Holdings Inc. will post 0.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 22nd. Stockholders of record on Tuesday, January 2nd will be given a $0.113 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, December 29th.
TYPE has been the topic of a number of recent analyst reports. ValuEngine raised Monotype Imaging from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. B. Riley boosted their price target on Monotype Imaging from $20.00 to $24.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. J P Morgan Chase & Co downgraded Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price target on the stock. in a research report on Tuesday, December 12th. Finally, BidaskClub downgraded Monotype Imaging from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.17.
Monotype Imaging 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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