GAMMA Investing LLC Grows Stock Holdings in Shutterstock, Inc. $SSTK

GAMMA Investing LLC increased its stake in shares of Shutterstock, Inc. (NYSE:SSTK – Free Report) by 71.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,996 shares of the business services provider’s stock after purchasing an additional 834 shares during the period. GAMMA Investing LLC’s holdings in Shutterstock were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Invenomic Capital Management LP increased its holdings in Shutterstock by 47.1% during the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock valued at $16,488,000 after buying an additional 283,532 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Shutterstock by 21.7% during the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock valued at $12,414,000 after buying an additional 118,828 shares during the last quarter. Millennium Management LLC increased its holdings in Shutterstock by 109.3% during the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after buying an additional 327,203 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in Shutterstock during the first quarter valued at approximately $11,177,000. Finally, Boston Trust Walden Corp increased its holdings in Shutterstock by 1.2% during the first quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider’s stock valued at $10,388,000 after buying an additional 6,866 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.
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Shutterstock Price Performance
Shares of NYSE:SSTK opened at $22.43 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a fifty day moving average price of $20.83 and a 200 day moving average price of $19.00. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $38.80. The firm has a market cap of $795.41 million, a price-to-earnings ratio of 12.39 and a beta of 1.09.
Shutterstock (NYSE:SSTK – Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.The company had revenue of $266.99 million for the quarter, compared to the consensus estimate of $248.27 million. During the same quarter in the prior year, the company posted $1.00 EPS. Shutterstock’s revenue was up 21.3% compared to the same quarter last year. As a group, sell-side analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.
Shutterstock Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.9%. Shutterstock’s dividend payout ratio is currently 72.93%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on SSTK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a report on Saturday, September 27th. Wall Street Zen raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $43.67.
Check Out Our Latest Research Report on SSTK
About Shutterstock
(Free Report)
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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