Bernzott Capital Advisors cut its stake in Shutterstock (NYSE:SSTK) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 669,105 shares of the business services provider’s stock after selling 7,025 shares during the period. Shutterstock comprises about 4.2% of Bernzott Capital Advisors’ holdings, making the stock its 4th largest holding. Bernzott Capital Advisors owned about 1.92% of Shutterstock worth $32,217,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in Shutterstock by 18.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 91,718 shares of the business services provider’s stock valued at $3,947,000 after purchasing an additional 14,544 shares during the period. Landscape Capital Management L.L.C. boosted its holdings in Shutterstock by 213.2% in the fourth quarter. Landscape Capital Management L.L.C. now owns 61,735 shares of the business services provider’s stock valued at $2,656,000 after purchasing an additional 42,027 shares during the period. Kornitzer Capital Management Inc. KS purchased a new position in Shutterstock in the fourth quarter valued at $1,033,000. BlackRock Inc. boosted its holdings in Shutterstock by 6.2% in the fourth quarter. BlackRock Inc. now owns 2,373,497 shares of the business services provider’s stock valued at $102,131,000 after purchasing an additional 137,849 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in Shutterstock by 98.6% in the fourth quarter. Schroder Investment Management Group now owns 556,747 shares of the business services provider’s stock valued at $23,956,000 after purchasing an additional 276,377 shares during the period. Hedge funds and other institutional investors own 57.52% of the company’s stock.
A number of research analysts recently issued reports on SSTK shares. ValuEngine lowered Shutterstock from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. SunTrust Banks lifted their price target on Shutterstock to $47.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Deutsche Bank lifted their price target on Shutterstock from $36.00 to $43.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. Finally, Zacks Investment Research raised Shutterstock from a “sell” rating to a “hold” rating in a report on Saturday, March 24th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.20.
Shares of Shutterstock opened at $46.38 on Wednesday, according to Marketbeat. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 65.32 and a beta of 1.19. Shutterstock has a 1 year low of $29.85 and a 1 year high of $52.78.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.04). The business had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $150.14 million. Shutterstock had a return on equity of 7.59% and a net margin of 7.36%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. sell-side analysts predict that Shutterstock will post 0.81 earnings per share for the current fiscal year.
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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