Levin Capital Strategies L.P. purchased a new position in Monotype Imaging Holdings Inc. (NASDAQ:TYPE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,500 shares of the software maker’s stock, valued at approximately $205,000.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Monotype Imaging by 0.6% during the second quarter. BlackRock Inc. now owns 4,945,729 shares of the software maker’s stock worth $90,506,000 after purchasing an additional 28,680 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Monotype Imaging by 2.0% during the second quarter. Vanguard Group Inc. now owns 3,758,278 shares of the software maker’s stock worth $68,777,000 after purchasing an additional 74,910 shares during the last quarter. Trigran Investments Inc. lifted its position in shares of Monotype Imaging by 23.5% during the third quarter. Trigran Investments Inc. now owns 2,283,331 shares of the software maker’s stock worth $43,954,000 after purchasing an additional 434,982 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Monotype Imaging by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,429,976 shares of the software maker’s stock worth $27,527,000 after purchasing an additional 13,869 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Monotype Imaging by 0.3% during the second quarter. State Street Corp now owns 1,048,771 shares of the software maker’s stock worth $19,194,000 after purchasing an additional 3,201 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.
In related news, CAO Janet M. Dunlap sold 2,000 shares of Monotype Imaging stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer now directly owns 90,008 shares in the company, valued at $2,250,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Janet M. Dunlap sold 8,063 shares of Monotype Imaging stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $25.00, for a total value of $201,575.00. Following the completion of the sale, the vice president now owns 92,913 shares of the company’s stock, valued at $2,322,825. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.
Monotype Imaging (NASDAQ:TYPE) last released its quarterly earnings data on Friday, February 16th. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.31. The firm had revenue of $65.02 million during the quarter, compared to the consensus estimate of $62.45 million. Monotype Imaging had a negative return on equity of 6.13% and a negative net margin of 7.58%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 earnings per share. research analysts anticipate that Monotype Imaging Holdings Inc. will post 0.45 EPS for the current fiscal year.
TYPE has been the subject of several research analyst reports. BidaskClub downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. ValuEngine downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. downgraded Monotype Imaging from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a report on Tuesday, December 12th. Finally, B. Riley lifted their price objective on Monotype Imaging from $20.00 to $24.50 and gave the company a “neutral” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Monotype Imaging presently has a consensus rating of “Sell” and a consensus price target of $23.17.
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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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