Quantbot Technologies LP Buys 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 stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 94.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Shutterstock by 22.8% in 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 buying an additional 189,015 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Shutterstock by 21.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider's stock valued at $12,414,000 after purchasing an additional 118,828 shares in the last quarter. Invenomic Capital Management LP increased its holdings in Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock valued at $18,255,000 after purchasing an additional 132,055 shares in the last quarter. Alpine Associates Management Inc. acquired a new stake in Shutterstock during the 1st quarter valued at $11,177,000. Finally, Boston Trust Walden Corp increased its holdings in Shutterstock by 1.2% during the 1st quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider's stock valued at $10,388,000 after purchasing an additional 6,866 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. 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 dropped their price target on 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 stock. Based on data from MarketBeat, Shutterstock currently has an average rating of "Hold" and an average target price of $43.67.

Shutterstock Trading Down 1.4%

SSTK traded down $0.29 during mid-day trading on Wednesday, reaching $20.60. The stock had a trading volume of 271,026 shares, compared to its average volume of 257,927. The stock has a market capitalization of $730.68 million, a P/E ratio of 11.38 and a beta of 0.99. 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 firm's fifty day simple moving average is $19.86 and its two-hundred day simple moving average is $19.49. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $38.80.

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). The firm 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 firm's quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 earnings per share. On average, equities analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a 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.