Adage Capital Partners GP L.L.C. Acquires Shares of 100,000 Shutterstock, Inc. $SSTK

Adage Capital Partners GP L.L.C. acquired a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,000 shares of the business services provider's stock, valued at approximately $1,863,000. Adage Capital Partners GP L.L.C. owned 0.28% of Shutterstock at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SSTK. Performa Ltd US LLC acquired a new stake in Shutterstock in the first quarter valued at approximately $25,000. Versant Capital Management Inc grew its holdings in Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,336 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Shutterstock in the first quarter valued at approximately $28,000. CWM LLC grew its holdings in Shutterstock by 93.8% in the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after purchasing an additional 876 shares during the period. Finally, Palouse Capital Management Inc. grew its holdings in Shutterstock by 33.8% in the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after purchasing an additional 1,473 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Needham & Company LLC lowered their price target on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $20.36 on Tuesday. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $38.80. The company has a market cap of $722.25 million, a price-to-earnings ratio of 11.25 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. The business's 50 day moving average price is $20.17 and its 200 day moving average price is $18.94.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.The company had revenue of $266.99 million for the quarter, compared to analysts' expectations of $248.27 million. During the same quarter in the previous year, the business posted $1.00 EPS. The business's quarterly revenue was up 21.3% compared to the same quarter last year. On average, research analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a yield of 6.5%. Shutterstock's dividend payout ratio (DPR) is presently 72.93%.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.

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