Measured Wealth Private Client Group LLC reduced its stake in Shutterstock Inc (NYSE:SSTK) by 45.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,397 shares of the business services provider’s stock after selling 9,603 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Shutterstock were worth $447,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Zions Bancorporation N.A. bought a new position in Shutterstock during the first quarter worth about $78,000. Municipal Employees Retirement System of Michigan bought a new position in Shutterstock during the fourth quarter worth about $193,000. BNP Paribas Arbitrage SA lifted its holdings in Shutterstock by 876.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock worth $203,000 after acquiring an additional 3,908 shares in the last quarter. Piedmont Investment Advisors Inc. bought a new position in Shutterstock during the first quarter worth about $219,000. Finally, Everence Capital Management Inc. bought a new position in Shutterstock during the first quarter worth about $230,000. Institutional investors and hedge funds own 57.39% of the company’s stock.
Several research analysts have weighed in on SSTK shares. SunTrust Banks reiterated a “hold” rating and set a $44.00 target price on shares of Shutterstock in a report on Monday. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st.
Shares of Shutterstock stock opened at $34.37 on Wednesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The firm has a 50-day moving average price of $38.85. Shutterstock Inc has a one year low of $31.77 and a one year high of $55.76.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, August 6th. The business services provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $161.74 million for the quarter, compared to analyst estimates of $171.93 million. Shutterstock had a return on equity of 12.99% and a net margin of 4.68%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. As a group, equities analysts forecast that Shutterstock Inc will post 0.93 earnings per share for the current year.
Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
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