Renaissance Technologies LLC reduced its holdings in Shutterstock Inc (NYSE:SSTK) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 832,400 shares of the business services provider’s stock after selling 21,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Shutterstock were worth $32,622,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC boosted its position in shares of Shutterstock by 7.5% during the first quarter. Clearbridge Investments LLC now owns 1,159,728 shares of the business services provider’s stock worth $54,078,000 after buying an additional 80,587 shares during the period. Bernzott Capital Advisors boosted its position in shares of Shutterstock by 0.5% during the second quarter. Bernzott Capital Advisors now owns 898,847 shares of the business services provider’s stock worth $35,226,000 after buying an additional 4,028 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Shutterstock by 31.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 719,341 shares of the business services provider’s stock worth $25,903,000 after buying an additional 172,859 shares during the period. Spark Investment Management LLC boosted its position in shares of Shutterstock by 11.8% during the first quarter. Spark Investment Management LLC now owns 251,500 shares of the business services provider’s stock worth $11,727,000 after buying an additional 26,600 shares during the period. Finally, Landscape Capital Management L.L.C. boosted its position in shares of Shutterstock by 1,229.2% during the second quarter. Landscape Capital Management L.L.C. now owns 115,876 shares of the business services provider’s stock worth $4,541,000 after buying an additional 107,158 shares during the period. Institutional investors own 57.96% of the company’s stock.
NYSE SSTK traded up $0.12 during trading hours on Friday, hitting $37.42. 1,633 shares of the company traded hands, compared to its average volume of 176,757. The business’s 50-day moving average is $35.98 and its 200-day moving average is $40.62. Shutterstock Inc has a twelve month low of $31.77 and a twelve month high of $55.76. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.44 and a beta of 1.19.
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 the consensus estimate of $0.31 by $0.02. Shutterstock had a return on equity of 13.64% and a net margin of 5.19%. The firm had revenue of $161.74 million during the quarter, compared to analysts’ expectations of $171.93 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Shutterstock Inc will post 0.62 EPS for the current fiscal year.
Several research analysts have recently weighed in on SSTK shares. SunTrust Banks reaffirmed a “hold” rating and set a $44.00 price objective on shares of Shutterstock in a research report on Monday, August 5th. ValuEngine raised Shutterstock from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Finally, Zacks Investment Research cut Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday.
Shutterstock Company Profile
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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