Quantbot Technologies LP Acquires 23,479 Shares of Shutterstock, Inc. $SSTK

Key Points

• Quantbot Technologies LP increased its position in Shutterstock, Inc. by 94.8%, owning 48,253 shares valued at approximately $899,000.
• The company reported earnings of $1.19 EPS, missing expectations, but achieved revenue of $266.99 million, which surpassed anticipations.
• Shutterstock announced a quarterly dividend of $0.33 per share, with a dividend yield of 6.0% and a payout ratio of 72.93%.

Quantbot Technologies LP lifted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 94.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,253 shares of the business services provider's stock after buying an additional 23,479 shares during the period. Quantbot Technologies LP owned about 0.14% of Shutterstock worth $899,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SSTK. Performa Ltd US LLC acquired a new position in shares of Shutterstock during the 1st quarter worth $25,000. Versant Capital Management Inc raised its holdings in shares of Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after buying an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in Shutterstock in the 1st quarter worth about $28,000. CWM LLC increased 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 purchasing an additional 876 shares in the last quarter. Finally, Palouse Capital Management Inc. increased its holdings in Shutterstock by 33.8% in the 1st quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock worth $109,000 after purchasing an additional 1,473 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Trading Up 1.2%

Shares of NYSE SSTK traded up $0.26 during trading on Friday, reaching $20.93. The company had a trading volume of 190,030 shares, compared to its average volume of 251,076. The company's fifty day moving average price is $19.94 and its 200-day moving average price is $19.29. Shutterstock, Inc. has a 12 month low of $14.35 and a 12 month high of $38.80. The stock has a market cap of $742.25 million, a P/E ratio of 11.56 and a beta of 0.99. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.19 EPS 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 business had revenue of $266.99 million for the quarter, compared to the consensus estimate of $248.27 million. During the same quarter in the previous year, the company earned $1.00 EPS. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. As a group, research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 6.3%. Shutterstock's dividend payout ratio is presently 72.93%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SSTK. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Finally, Needham & Company LLC lowered their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Shutterstock currently has a consensus rating of "Hold" and an average target price of $43.67.

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.