Kornitzer Capital Management Inc. KS acquired a new stake in shares of Shutterstock Inc (NYSE:SSTK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,000 shares of the business services provider’s stock, valued at approximately $1,033,000. Kornitzer Capital Management Inc. KS owned about 0.07% of Shutterstock at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SSTK. Public Employees Retirement System of Ohio grew its holdings in Shutterstock by 20.1% during the third quarter. Public Employees Retirement System of Ohio now owns 22,654 shares of the business services provider’s stock valued at $754,000 after purchasing an additional 3,786 shares during the period. Vanguard Group Inc. grew its holdings in Shutterstock by 0.3% during the second quarter. Vanguard Group Inc. now owns 1,674,695 shares of the business services provider’s stock valued at $73,821,000 after purchasing an additional 5,258 shares during the period. Prudential Financial Inc. lifted its position in shares of Shutterstock by 66.8% in the third quarter. Prudential Financial Inc. now owns 74,829 shares of the business services provider’s stock valued at $2,491,000 after acquiring an additional 29,957 shares in the last quarter. State Street Corp lifted its position in shares of Shutterstock by 4.5% in the second quarter. State Street Corp now owns 452,917 shares of the business services provider’s stock valued at $19,963,000 after acquiring an additional 19,410 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Shutterstock by 55.7% in the third quarter. Nordea Investment Management AB now owns 64,263 shares of the business services provider’s stock valued at $2,139,000 after acquiring an additional 22,983 shares in the last quarter. Institutional investors and hedge funds own 57.46% of the company’s stock.
Shutterstock Inc (NYSE:SSTK) opened at $45.10 on Wednesday. The stock has a market capitalization of $1,560.00, a P/E ratio of 65.36 and a beta of 1.54. Shutterstock Inc has a 52 week low of $29.85 and a 52 week high of $55.07.
SSTK has been the topic of several research analyst reports. Zacks Investment Research upgraded Shutterstock from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Saturday, November 4th. ValuEngine downgraded Shutterstock from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Cantor Fitzgerald reiterated a “hold” rating and issued a $40.00 target price on shares of Shutterstock in a research report on Tuesday, October 31st. BidaskClub downgraded Shutterstock from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 7th. Finally, Jefferies Group upped their price objective on Shutterstock from $30.00 to $34.00 and gave the company an “underperform” rating in a research report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Shutterstock currently has an average rating of “Hold” and an average price target of $39.17.
COPYRIGHT VIOLATION WARNING: “Kornitzer Capital Management Inc. KS Acquires New Holdings in Shutterstock Inc (SSTK)” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/21/kornitzer-capital-management-inc-ks-invests-1-03-million-in-shutterstock-inc-sstk.html.
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.
Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.