Quarry LP Buys 842 Shares of Shutterstock, Inc. (NYSE:SSTK)

Quarry LP raised its stake in Shutterstock, Inc. (NYSE:SSTK) by 313.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,111 shares of the business services provider’s stock after acquiring an additional 842 shares during the period. Quarry LP’s holdings in Shutterstock were worth $43,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Texas Permanent School Fund Corp grew its position in Shutterstock by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 20,941 shares of the business services provider’s stock valued at $959,000 after acquiring an additional 271 shares during the period. The Manufacturers Life Insurance Company grew its position in Shutterstock by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock valued at $487,000 after acquiring an additional 309 shares during the period. ProShare Advisors LLC grew its position in Shutterstock by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 342 shares during the period. Palouse Capital Management Inc. grew its position in Shutterstock by 20.7% in the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 665 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of Shutterstock by 17.9% during the second quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock worth $209,000 after purchasing an additional 822 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Up 2.6 %

Shares of SSTK opened at $32.70 on Friday. Shutterstock, Inc. has a 12-month low of $31.30 and a 12-month high of $54.40. The firm has a market capitalization of $1.16 billion, a PE ratio of 12.67 and a beta of 1.09. The stock’s fifty day simple moving average is $35.62 and its 200-day simple moving average is $38.96.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.01). The firm had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.44 million. Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. Analysts anticipate that Shutterstock, Inc. will post 2.99 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.67%. Shutterstock’s payout ratio is 46.51%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th.

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.