Nuveen LLC Makes New $1.59 Million Investment in Shutterstock, Inc. $SSTK

Key Points

• Nuveen LLC has invested approximately $1.59 million in Shutterstock, acquiring 85,161 shares and representing 0.24% ownership as of their latest SEC filing.
• Several large investors have increased their stakes in Shutterstock, with a notable 22.8% increase in holdings from Dimensional Fund Advisors during the fourth quarter.
• Shutterstock recently announced a quarterly dividend of $0.33 per share, yielding approximately 6.3% annually, with an ex-dividend date set for September 4th.

Nuveen LLC purchased a new position in Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 85,161 shares of the business services provider's stock, valued at approximately $1,587,000. Nuveen LLC owned about 0.24% of Shutterstock at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SSTK. Wealth Enhancement Advisory Services LLC increased its position in Shutterstock by 11.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock valued at $201,000 after acquiring an additional 682 shares during the period. Janney Montgomery Scott LLC increased its position in Shutterstock by 159.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 78,652 shares of the business services provider's stock valued at $1,465,000 after acquiring an additional 48,382 shares during the period. Victory Capital Management Inc. increased its position in Shutterstock by 33.3% in the 1st quarter. Victory Capital Management Inc. now owns 55,137 shares of the business services provider's stock valued at $1,027,000 after acquiring an additional 13,767 shares during the period. Millennium Management LLC increased its position in Shutterstock by 77.6% in the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock valued at $9,087,000 after acquiring an additional 130,831 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Shutterstock in the 1st quarter valued at approximately $633,000. Institutional investors own 82.79% of the company's stock.

Shutterstock Stock Down 1.9%

Shares of SSTK stock traded down $0.40 on Thursday, reaching $20.63. 209,489 shares of the company's stock traded hands, compared to its average volume of 219,215. The business's 50 day moving average price is $20.12 and its two-hundred day moving average price is $19.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $38.80. The company has a market capitalization of $731.75 million, a P/E ratio of 11.40 and a beta of 1.05.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results 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 net margin of 6.36% and a return on equity of 18.42%. The firm had revenue of $266.99 million during the quarter, compared to analysts' expectations of $248.27 million. During the same quarter last year, the firm earned $1.00 EPS. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $0.33 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a yield of 6.4%. Shutterstock's payout ratio is 72.93%.

Analyst Ratings Changes

SSTK has been the topic of several research analyst reports. 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 report on Monday, June 2nd. Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Shutterstock presently has an average rating of "Hold" and a consensus price target of $43.67.

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.