Steamboat Capital Partners LLC Purchases New Shares in Shutterstock, Inc. $SSTK

Key Points

• Steamboat Capital Partners LLC has acquired a new stake in Shutterstock, Inc., purchasing 49,106 shares valued at approximately $915,000, representing 0.14% of the company.
• Shutterstock reported earnings per share (EPS) of $1.19 for the last quarter, missing the consensus estimate of $1.65, although revenue increased by 21.3% year-over-year to $266.99 million.
• The company announced a quarterly dividend of $0.33 per share, leading to an annualized dividend yield of 6.3% with a payout ratio of 72.93%.

Steamboat Capital Partners LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,106 shares of the business services provider's stock, valued at approximately $915,000. Steamboat Capital Partners LLC owned approximately 0.14% of Shutterstock at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Performa Ltd US LLC bought a new position in shares of Shutterstock during the first quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of Shutterstock by 1,908.6% during the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Shutterstock during the first quarter valued at $28,000. CWM LLC increased its holdings in shares of Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after acquiring an additional 876 shares in the last quarter. Finally, Palouse Capital Management Inc. increased its holdings in shares of Shutterstock by 33.8% during the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after acquiring an additional 1,473 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Analyst Upgrades and Downgrades

SSTK has been the subject of several research analyst reports. Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC reduced their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $43.67.

Shutterstock Stock Performance

Shares of NYSE:SSTK traded up $0.55 during midday trading on Wednesday, hitting $20.97. The company had a trading volume of 306,273 shares, compared to its average volume of 232,480. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market cap of $743.77 million, a price-to-earnings ratio of 11.59 and a beta of 1.05. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $38.80. The company has a fifty day moving average of $20.07 and a two-hundred day moving average of $19.19.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). The company had revenue of $266.99 million for 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 company's revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 earnings per share. On average, equities research analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

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