Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by Mcmorgan & Co. LLC

Mcmorgan & Co. LLC boosted its position in Shutterstock, Inc. (NYSE:SSTK) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,718 shares of the business services provider’s stock after buying an additional 3,540 shares during the quarter. Mcmorgan & Co. LLC owned 0.15% of Shutterstock worth $2,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted its stake in Shutterstock by 1.3% during the 1st 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 last quarter. ProShare Advisors LLC lifted its position in shares of Shutterstock by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock worth $227,000 after purchasing an additional 342 shares during the last quarter. Palouse Capital Management Inc. grew its stake 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 worth $150,000 after purchasing an additional 665 shares in the last quarter. Quest Partners LLC increased its holdings in Shutterstock by 17.9% in the second quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock valued at $209,000 after buying an additional 822 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after buying an additional 838 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Stock Up 1.4 %

Shutterstock stock opened at $35.45 on Friday. Shutterstock, Inc. has a 12 month low of $32.38 and a 12 month high of $54.40. The stock has a market cap of $1.27 billion, a P/E ratio of 13.74 and a beta of 1.09. The company’s fifty day simple moving average is $36.57 and its 200-day simple moving average is $39.68.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). The firm had revenue of $220.05 million during the quarter, compared to the consensus estimate of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, equities research analysts expect that Shutterstock, Inc. will post 3.22 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, August 29th. Shutterstock’s payout ratio is 46.51%.

Analyst Ratings Changes

SSTK has been the topic of a number of recent research reports. StockNews.com downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Morgan Stanley raised their target price on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a research note on Tuesday, August 6th.

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.