Shutterstock, Inc. (SSTK) Stake Cut by Capstone Asset Management Co.
Capstone Asset Management Co. lowered its position in Shutterstock, Inc. (NYSE:SSTK) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,476 shares of the business services provider’s stock after selling 210 shares during the period. Capstone Asset Management Co.’s holdings in Shutterstock were worth $330,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of Shutterstock by 250.0% in the first quarter. LS Investment Advisors LLC now owns 2,583 shares of the business services provider’s stock worth $107,000 after buying an additional 1,845 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Shutterstock by 2.6% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,410 shares of the business services provider’s stock worth $182,000 after buying an additional 110 shares in the last quarter. Mason Street Advisors LLC increased its position in shares of Shutterstock by 5.1% in the first quarter. Mason Street Advisors LLC now owns 4,438 shares of the business services provider’s stock worth $184,000 after buying an additional 216 shares in the last quarter. Fox Run Management L.L.C. increased its position in shares of Shutterstock by 28.7% in the first quarter. Fox Run Management L.L.C. now owns 6,563 shares of the business services provider’s stock worth $271,000 after buying an additional 1,463 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Shutterstock during the first quarter worth about $355,000. Institutional investors own 60.56% of the company’s stock.
Shutterstock, Inc. (NYSE:SSTK) traded down 0.06% during trading on Friday, hitting $32.94. The stock had a trading volume of 57,550 shares. The firm has a market cap of $1.14 billion, a P/E ratio of 40.57 and a beta of 1.40. Shutterstock, Inc. has a 12-month low of $32.54 and a 12-month high of $65.16. The stock’s 50 day moving average price is $41.95 and its 200 day moving average price is $44.71.
Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, August 2nd. The business services provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.12. Shutterstock had a net margin of 5.59% and a return on equity of 11.08%. The company had revenue of $134 million during the quarter, compared to analysts’ expectations of $137.83 million. During the same period in the previous year, the company posted $0.36 EPS. Shutterstock’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Shutterstock, Inc. will post $1.16 EPS for the current fiscal year.
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Several research firms have recently weighed in on SSTK. TheStreet downgraded Shutterstock from a “b-” rating to a “c” rating in a research report on Friday, July 7th. BidaskClub downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a research report on Friday, June 23rd. Zacks Investment Research upgraded Shutterstock from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $50.00 target price on shares of Shutterstock in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $44.00.
Shutterstock, Inc (Shutterstock) is a global technology company that operates a two-sided marketplace for professionals to license content. The Company’s library of content includes digital imagery, which consists of 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, which consists of music tracks and sound effects and which is often used to complement digital imagery.
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