Monotype Imaging Holdings Inc. (NASDAQ:TYPE) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 553,756 shares, a drop of 24.9% from the January 13th total of 737,064 shares. Based on an average daily trading volume, of 233,211 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.4% of the company’s stock are short sold.
Shares of Monotype Imaging Holdings (NASDAQ:TYPE) opened at 23.30 on Tuesday. The firm’s 50-day moving average price is $21.41 and its 200 day moving average price is $20.81. The firm has a market cap of $931.46 million, a P/E ratio of 49.26 and a beta of 0.99. Monotype Imaging Holdings has a one year low of $17.31 and a one year high of $25.37.
Several equities research analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating and set a $22.00 price target on shares of Monotype Imaging Holdings in a report on Monday, October 31st. J P Morgan Chase & Co raised Monotype Imaging Holdings from an “underweight” rating to a “neutral” rating in a report on Thursday, January 12th. Finally, Zacks Investment Research raised Monotype Imaging Holdings from a “sell” rating to a “hold” rating in a report on Tuesday, January 3rd.
In related news, Director Douglas J. Shaw sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $22.79, for a total value of $569,750.00. Following the completion of the transaction, the director now directly owns 26,035 shares of the company’s stock, valued at $593,337.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 75,587 shares of company stock valued at $1,589,591 over the last three months. 2.30% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Monotype Imaging Holdings during the third quarter valued at about $100,000. Teacher Retirement System of Texas raised its position in Monotype Imaging Holdings by 13.5% in the second quarter. Teacher Retirement System of Texas now owns 5,583 shares of the company’s stock valued at $138,000 after buying an additional 665 shares during the last quarter. Victory Capital Management Inc. raised its position in Monotype Imaging Holdings by 11.0% in the third quarter. Victory Capital Management Inc. now owns 6,360 shares of the company’s stock valued at $141,000 after buying an additional 632 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Monotype Imaging Holdings by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,020 shares of the company’s stock valued at $199,000 after buying an additional 150 shares during the last quarter. Finally, 1st Global Advisors Inc. bought a new position in Monotype Imaging Holdings during the third quarter valued at about $211,000. Institutional investors and hedge funds own 85.10% of the company’s stock.
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Monotype Imaging Holdings Company Profile
Monotype Imaging Holdings Inc (Monotype) is a provider of type and technology for applications and consumer devices. The Company’s business segment operates through development, marketing and licensing of technologies and fonts. Its business includes Creative Professional and original equipment manufacturer (OEM).
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