Callodine Capital Management LP Purchases 238,176 Shares of Shutterstock, Inc. $SSTK

Callodine Capital Management LP boosted its position in Shutterstock, Inc. (NYSE:SSTK) by 23.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,272,139 shares of the business services provider’s stock after purchasing an additional 238,176 shares during the period. Shutterstock makes up approximately 1.5% of Callodine Capital Management LP’s holdings, making the stock its 25th biggest position. Callodine Capital Management LP’s holdings in Shutterstock were worth $21,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SSTK. WealthCollab LLC grew its holdings in Shutterstock by 106.2% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after acquiring an additional 748 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,065 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 1,388 shares during the period. Fifth Third Bancorp boosted its position in shares of Shutterstock by 865.9% during the 1st quarter. Fifth Third Bancorp now owns 6,346 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 5,689 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Shutterstock by 87.7% during the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock valued at $106,000 after purchasing an additional 2,587 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Down 3.0%

SSTK stock opened at $5.58 on Friday. The stock has a 50-day simple moving average of $12.16 and a two-hundred day simple moving average of $15.58. Shutterstock, Inc. has a twelve month low of $5.25 and a twelve month high of $29.50. The firm has a market capitalization of $205.19 million, a PE ratio of -9.63 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SSTK shares. Weiss Ratings downgraded shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Finally, Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Shutterstock Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.