Nuveen LLC Invests $1.59 Million 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 stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 85,161 shares of the business services provider's stock, valued at approximately $1,587,000. Nuveen LLC owned 0.24% of Shutterstock as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the business. Snowden Capital Advisors LLC grew its position in shares of Shutterstock by 5.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider's stock valued at $325,000 after purchasing an additional 548 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake 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 buying an additional 682 shares in the last quarter. CWM LLC boosted its holdings in Shutterstock by 93.8% in the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider's stock worth $34,000 after buying an additional 876 shares during the last quarter. KBC Group NV increased its stake in Shutterstock by 1.4% during the 1st quarter. KBC Group NV now owns 67,003 shares of the business services provider's stock worth $1,248,000 after buying an additional 934 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in Shutterstock by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 15,631 shares of the business services provider's stock worth $474,000 after buying an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SSTK shares. Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC dropped their target price on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $43.67.

Shutterstock Trading Up 1.2%

Shares of SSTK stock traded up $0.25 during trading hours on Wednesday, hitting $20.67. The company had a trading volume of 167,624 shares, compared to its average volume of 442,974. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $38.80. The company's fifty day moving average is $20.03 and its 200 day moving average is $19.17. The stock has a market capitalization of $732.99 million, a PE ratio of 11.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49.

Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $248.27 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The business's revenue was up 21.3% compared to the same quarter last year. Research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is presently 72.93%.

About Shutterstock

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.