Shutterstock, Inc. $SSTK Position Lifted 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 lifted its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 63.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 538,670 shares of the business services provider's stock after acquiring an additional 209,840 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.53% of Shutterstock worth $10,035,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SSTK. LPL Financial LLC increased its position in shares of Shutterstock by 18.1% in the fourth quarter. LPL Financial LLC now owns 11,562 shares of the business services provider's stock worth $351,000 after acquiring an additional 1,772 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Shutterstock by 30.2% in the fourth 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. increased its position in shares of Shutterstock by 4.5% in the fourth 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 in the fourth quarter worth $1,400,000. Finally, Barclays PLC increased its position in shares of Shutterstock by 11.8% in the fourth quarter. Barclays PLC now owns 56,539 shares of the business services provider's stock worth $1,716,000 after acquiring an additional 5,974 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Stock Up 1.2%

Shares of SSTK stock traded up $0.26 on Friday, hitting $20.93. The stock had a trading volume of 190,030 shares, compared to its average volume of 251,076. The firm has a market capitalization of $742.25 million, a price-to-earnings ratio of 11.56 and a beta of 0.99. The stock's 50 day moving average is $19.94 and its 200-day moving average is $19.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. 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 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). The firm had revenue of $266.99 million during the quarter, compared to analysts' expectations of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. Shutterstock's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 earnings per share. As a group, research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Thursday, September 4th. Shutterstock's dividend payout ratio is 72.93%.

Analyst Ratings Changes

Several research firms have recently issued reports on SSTK. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Needham & Company LLC decreased their target price on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.