Monotype Imaging (TYPE) Given a $31.00 Price Target at B. Riley

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Monotype Imaging (NASDAQ:TYPE) has been given a $31.00 price objective by stock analysts at B. Riley in a research note issued on Tuesday. The firm presently has a “buy” rating on the software maker’s stock. B. Riley’s price target points to a potential upside of 76.04% from the company’s current price.

Several other equities analysts also recently commented on TYPE. Zacks Investment Research upgraded Monotype Imaging from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, July 3rd. BidaskClub downgraded Monotype Imaging from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, ValuEngine downgraded Monotype Imaging from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. Three analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Monotype Imaging has a consensus rating of “Hold” and an average target price of $26.00.

Monotype Imaging stock traded down $0.04 during trading on Tuesday, hitting $17.61. The stock had a trading volume of 8,162 shares, compared to its average volume of 210,336. Monotype Imaging has a 1 year low of $17.50 and a 1 year high of $26.75. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.25. The company has a market cap of $746.50 million, a price-to-earnings ratio of 33.15 and a beta of 0.96.

Several large investors have recently bought and sold shares of TYPE. Wells Fargo & Company MN lifted its position in shares of Monotype Imaging by 186.6% during the first quarter. Wells Fargo & Company MN now owns 202,994 shares of the software maker’s stock worth $4,558,000 after acquiring an additional 132,155 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Monotype Imaging by 15.8% during the first quarter. JPMorgan Chase & Co. now owns 176,050 shares of the software maker’s stock worth $3,952,000 after acquiring an additional 24,036 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Monotype Imaging during the first quarter worth $262,000. Principal Financial Group Inc. lifted its position in shares of Monotype Imaging by 2.0% during the first quarter. Principal Financial Group Inc. now owns 318,558 shares of the software maker’s stock worth $7,152,000 after acquiring an additional 6,262 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Monotype Imaging by 1,493.0% during the first quarter. Millennium Management LLC now owns 677,958 shares of the software maker’s stock worth $15,220,000 after acquiring an additional 635,399 shares in the last quarter. Hedge funds and other institutional investors own 88.40% of the company’s stock.

Monotype Imaging Company Profile

Monotype Imaging Holdings Inc develops, markets, and licenses technologies and fonts in the United States, the United Kingdom, Germany, Japan, and rest of Asia. The company offers font products, including its own fonts from the Monotype Libraries, as well as fonts from third parties through its e-commerce Websites, including myfonts.com, fonts.com, fontshop.com, and linotype.com.

Further Reading: Moving Average (MA)

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