GAM Holding AG Purchases Shares of 57,000 Shutterstock, Inc. $SSTK

GAM Holding AG purchased a new stake in Shutterstock, Inc. (NYSE:SSTK) during the 2nd quarter, Holdings Channel reports. The firm purchased 57,000 shares of the business services provider’s stock, valued at approximately $1,081,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. KBC Group NV increased its position in shares of Shutterstock by 1.4% in the first quarter. KBC Group NV now owns 67,003 shares of the business services provider’s stock valued at $1,248,000 after acquiring an additional 934 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Shutterstock by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 152,272 shares of the business services provider’s stock worth $2,837,000 after purchasing an additional 3,233 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Shutterstock by 18.5% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 15,906 shares of the business services provider’s stock worth $296,000 after purchasing an additional 2,482 shares during the last quarter. CWM LLC increased its position in shares of Shutterstock by 93.8% during the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after purchasing an additional 876 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its position in shares of Shutterstock by 21.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock worth $12,414,000 after purchasing an additional 118,828 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SSTK has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Shutterstock currently has an average rating of “Hold” and a consensus price target of $25.00.

Shutterstock Stock Up 2.2%

SSTK stock opened at $25.08 on Friday. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80. The firm has a market capitalization of $889.41 million, a PE ratio of 13.85 and a beta of 1.09. The business’s 50 day simple moving average is $22.28 and its 200 day simple moving average is $19.97. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.17 EPS for the quarter, missing the consensus estimate of $1.47 by ($1.30). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. During the same quarter last year, the company earned $1.31 earnings per share. As a group, research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

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.