Pale Fire Capital SE Has $1.49 Million Stock Holdings in Shutterstock, Inc. $SSTK

Key Points

• Pale Fire Capital SE reduced its stake in **Shutterstock, Inc.** by **36.9%**, selling **46,933 shares** and now holds **80,218 shares** valued at approximately **$1.5 million**.
• Shutterstock recently announced a **quarterly dividend** of **$0.33 per share**, with a **dividend yield** of **6.0%**, set to be paid on **September 18th**.
• The company's latest earnings report revealed an EPS of **$1.19** for the quarter, which missed analyst expectations, but revenue increased **21.3%** year-over-year, totaling **$266.99 million**.

Pale Fire Capital SE decreased its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 36.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,218 shares of the business services provider's stock after selling 46,933 shares during the quarter. Shutterstock accounts for approximately 0.2% of Pale Fire Capital SE's holdings, making the stock its 24th biggest holding. Pale Fire Capital SE owned 0.23% of Shutterstock worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SSTK. Alpine Associates Management Inc. acquired a new position in shares of Shutterstock in the 1st quarter valued at $11,177,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of Shutterstock by 63.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider's stock worth $10,035,000 after purchasing an additional 209,840 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock worth $30,904,000 after purchasing an additional 189,015 shares in the last quarter. Invenomic Capital Management LP increased its position in shares of Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after purchasing an additional 132,055 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Shutterstock by 77.6% during the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock worth $9,087,000 after purchasing an additional 130,831 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SSTK shares. 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 research report on Monday, June 2nd. Wall Street Zen upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. One research 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 presently has an average rating of "Hold" and a consensus target price of $43.67.

Shutterstock Stock Down 1.4%

SSTK traded down $0.29 during trading on Wednesday, reaching $20.60. The company had a trading volume of 271,026 shares, compared to its average volume of 257,927. 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, Inc. has a 12 month low of $14.35 and a 12 month high of $38.80. The business's fifty day moving average price is $19.86 and its 200 day moving average price is $19.49. The company has a market cap of $730.68 million, a P/E ratio of 11.38 and a beta of 0.99.

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

Shutterstock Dividend Announcement

The business also recently declared 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 of this dividend is Thursday, September 4th. This represents a $1.32 annualized dividend and a yield of 6.4%. Shutterstock's dividend payout ratio is 72.93%.

Shutterstock 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.