Shutterstock, Inc. $SSTK Shares Acquired by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Shutterstock, Inc. by 63.8%, owning approximately 1.53% of the company valued at $10.03 million as of the latest SEC filing.
• The firm recently announced a quarterly dividend of $0.33 per share, resulting in an annualized dividend of $1.32 and a yield of 6.0%.
• Despite missing earnings expectations with an EPS of $1.19 compared to the consensus estimate of $1.65, Shutterstock reported a revenue increase of 21.3% year-over-year.

Hotchkis & Wiley Capital Management LLC grew its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 63.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,670 shares of the business services provider's stock after purchasing an additional 209,840 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 1.53% of Shutterstock worth $10,035,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SSTK. LPL Financial LLC grew its position in Shutterstock by 18.1% during the fourth quarter. LPL Financial LLC now owns 11,562 shares of the business services provider's stock valued at $351,000 after buying an additional 1,772 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Shutterstock by 30.2% during the 4th quarter. Wells Fargo & Company MN now owns 16,872 shares of the business services provider's stock worth $512,000 after acquiring an additional 3,910 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Shutterstock by 4.5% during the 4th quarter. Invesco Ltd. now owns 101,711 shares of the business services provider's stock worth $3,087,000 after acquiring an additional 4,388 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Shutterstock during the 4th quarter valued at about $1,400,000. Finally, Barclays PLC increased its stake in shares of Shutterstock by 11.8% in the 4th quarter. Barclays PLC now owns 56,539 shares of the business services provider's stock valued at $1,716,000 after purchasing an additional 5,974 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SSTK shares. Needham & Company LLC reduced 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. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $43.67.

Shutterstock Stock Performance

Shares of NYSE:SSTK opened at $21.91 on Monday. 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 1 year low of $14.35 and a 1 year high of $38.80. The firm has a market capitalization of $777.15 million, a PE ratio of 12.11 and a beta of 0.99. The business's 50 day moving average price is $19.71 and its 200-day moving average price is $19.55.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $266.99 million during the quarter, compared to analyst estimates of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 earnings per share. As a group, equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently declared 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 6.0%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is currently 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.

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