Renaissance Technologies LLC Boosts Holdings in Shutterstock Inc (SSTK)
Renaissance Technologies LLC raised its stake in Shutterstock Inc (NYSE:SSTK) by 107.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 462,500 shares of the business services provider’s stock after buying an additional 239,900 shares during the period. Renaissance Technologies LLC owned approximately 1.32% of Shutterstock worth $21,950,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cutler Group LP raised its stake in Shutterstock by 357.1% during the 2nd quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 3,571 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Shutterstock during the 2nd quarter valued at $1,548,000. Bernzott Capital Advisors raised its stake in Shutterstock by 8.4% during the 2nd quarter. Bernzott Capital Advisors now owns 725,455 shares of the business services provider’s stock valued at $34,430,000 after purchasing an additional 56,350 shares during the period. Strs Ohio acquired a new stake in Shutterstock during the 2nd quarter valued at $896,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Shutterstock by 21.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 14,773 shares of the business services provider’s stock valued at $701,000 after acquiring an additional 2,570 shares in the last quarter. 63.81% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on SSTK shares. SunTrust Banks restated a “hold” rating and set a $48.00 price target on shares of Shutterstock in a report on Wednesday, August 1st. Jefferies Financial Group restated a “sell” rating and set a $44.00 price target on shares of Shutterstock in a report on Thursday, August 2nd. ValuEngine upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Monday, June 11th. Finally, Deutsche Bank boosted their price target on shares of Shutterstock from $40.00 to $43.00 and gave the company a “hold” rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $43.40.
Shutterstock stock opened at $52.50 on Monday. Shutterstock Inc has a 12 month low of $32.50 and a 12 month high of $55.76. The firm has a market cap of $1.84 billion, a PE ratio of 73.94, a P/E/G ratio of 3.07 and a beta of 1.43.
Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. Shutterstock had a net margin of 6.54% and a return on equity of 7.82%. The business had revenue of $156.60 million for the quarter, compared to analysts’ expectations of $156.40 million. During the same period in the previous year, the company posted $0.24 EPS. Shutterstock’s revenue was up 16.9% on a year-over-year basis. sell-side analysts predict that Shutterstock Inc will post 0.78 earnings per share for the current year.
The business also recently declared a dividend, which was paid on Wednesday, August 29th. Stockholders of record on Wednesday, August 15th were issued a dividend of $3.00 per share. The ex-dividend date was Tuesday, August 14th.
Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.
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