Susquehanna Fundamental Investments LLC Purchases New Position in Shutterstock, Inc. (NYSE:SSTK)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,631 shares of the business services provider’s stock, valued at approximately $992,000. Susquehanna Fundamental Investments LLC owned 0.07% of Shutterstock as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of Shutterstock by 31,733.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after purchasing an additional 952 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Shutterstock during the second quarter valued at approximately $41,000. Truvestments Capital LLC purchased a new position in shares of Shutterstock in the first quarter valued at approximately $42,000. Nisa Investment Advisors LLC boosted its stake in shares of Shutterstock by 69.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after acquiring an additional 838 shares during the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Shutterstock by 1,339.2% during the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Stock Down 2.0 %

Shares of NYSE:SSTK opened at $32.14 on Thursday. Shutterstock, Inc. has a 52-week low of $32.02 and a 52-week high of $54.40. The stock has a market cap of $1.14 billion, a P/E ratio of 12.46 and a beta of 1.09. The business has a fifty day moving average of $36.17 and a two-hundred day moving average of $39.21.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The firm had revenue of $220.05 million during the quarter, compared to analysts’ expectations of $213.44 million. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Shutterstock, Inc. will post 2.99 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Thursday, August 29th. Shutterstock’s payout ratio is presently 46.51%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SSTK. Morgan Stanley raised their price objective on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a research note on Tuesday, August 6th. Finally, StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.