Steamboat Capital Partners LLC Takes $915,000 Position 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 bought a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 49,106 shares of the business services provider's stock, valued at approximately $915,000. Steamboat Capital Partners LLC owned about 0.14% of Shutterstock at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Performa Ltd US LLC bought a new stake in Shutterstock during the 1st quarter valued at $25,000. Versant Capital Management Inc boosted its stake 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 acquiring an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in Shutterstock during the 1st quarter valued at approximately $28,000. CWM LLC boosted its stake in Shutterstock by 93.8% during the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after purchasing an additional 876 shares during the period. Finally, Palouse Capital Management Inc. raised 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 valued at $109,000 after acquiring an additional 1,473 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

Shutterstock Stock Down 2.5%

Shares of SSTK traded down $0.51 during trading hours on Friday, hitting $20.09. The stock had a trading volume of 113,728 shares, compared to its average volume of 440,611. 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 firm has a 50 day simple moving average of $20.12 and a 200-day simple moving average of $19.13. The firm has a market capitalization of $712.41 million, a P/E ratio of 11.09 and a beta of 1.05. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly 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). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business had revenue of $266.99 million during the quarter, compared to the consensus estimate of $248.27 million. During the same period in the previous year, the business posted $1.00 EPS. Shutterstock's revenue was up 21.3% compared to the same quarter last year. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.32 annualized dividend and a dividend yield of 6.6%. Shutterstock's dividend payout ratio (DPR) is currently 72.93%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SSTK. Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC decreased their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $43.67.

Shutterstock Company 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.