Cwm LLC Raises Stock Holdings in Shutterstock, Inc. $SSTK

Cwm LLC lifted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 477.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,453 shares of the business services provider’s stock after purchasing an additional 8,643 shares during the quarter. Cwm LLC’s holdings in Shutterstock were worth $198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SSTK. Alpine Associates Management Inc. purchased a new position in shares of Shutterstock during the first quarter worth about $11,177,000. Millennium Management LLC boosted its stake in Shutterstock by 109.3% in the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after buying an additional 327,203 shares in the last quarter. Invenomic Capital Management LP boosted its stake in Shutterstock by 47.1% in the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock worth $16,488,000 after buying an additional 283,532 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Shutterstock by 63.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider’s stock worth $10,035,000 after buying an additional 209,840 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Shutterstock by 21.7% in the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock worth $12,414,000 after buying an additional 118,828 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Performance

Shares of SSTK stock opened at $24.79 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $38.80. The stock has a 50 day moving average price of $22.08 and a two-hundred day moving average price of $19.81. The company has a market capitalization of $879.34 million, a P/E ratio of 13.70 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data 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 company had revenue of $266.99 million during the quarter, compared to the consensus estimate of $248.27 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SSTK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Wall Street Zen raised Shutterstock from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $40.50.

Shutterstock 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.