Shares of Monotype Imaging Holdings (NASDAQ:TYPE) hit a new 52-week high during mid-day trading on Thursday, American Banking News reports. The stock traded as high as $29.77 and last traded at $29.61, with a volume of 71,029 shares trading hands. The stock had previously closed at $28.52.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Monotype Imaging Holdings from a “neutral” rating to an “underperform” rating in a research note to investors on Thursday, November 7th. They now have a $27.10 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Monotype Imaging Holdings from $26.00 to $31.00 in a research note to investors on Friday, November 1st. Finally, analysts at JPMorgan Chase & Co. downgraded shares of Monotype Imaging Holdings from an “overweight” rating to a “neutral” rating in a research note to investors on Friday, November 1st. They now have a $30.00 price target on the stock, up previously from $28.50. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $28.62.
In other Monotype Imaging Holdings news, CEO Douglas Shaw sold 25,000 shares of Monotype Imaging Holdings stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $28.70, for a total transaction of $717,500.00. Following the completion of the transaction, the chief executive officer now directly owns 151,566 shares of the company’s stock, valued at approximately $4,349,944. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Monotype Imaging Holdings has a 52-week low of $14.77 and a 52-week high of $29.50. The stock has a 50-day moving average of $28.40 and a 200-day moving average of $26.03. The company has a market cap of $1.139 billion and a price-to-earnings ratio of 36.15.
Monotype Imaging Holdings (NASDAQ:TYPE) last announced its earnings results on Thursday, October 31st. The company reported $0.25 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.25. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $40.06 million. During the same quarter last year, the company posted $0.29 earnings per share. Monotype Imaging Holdings’s revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that Monotype Imaging Holdings will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 22nd. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Monday, December 30th.
Monotype Imaging Holdings Inc (NASDAQ:TYPE) is a provider of text imaging solutions.
This article (Monotype Imaging Holdings Inc. Hits New 52-Week High at $29.77 (TYPE)) was originally developed by and is property of American Banking News.
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