Seizert Capital Partners LLC Takes Position in Shutterstock Inc (NYSE:SSTK)

Seizert Capital Partners LLC acquired a new stake in shares of Shutterstock Inc (NYSE:SSTK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 33,822 shares of the business services provider’s stock, valued at approximately $1,325,000. Seizert Capital Partners LLC owned 0.10% of Shutterstock at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SSTK. Aurora Investment Counsel acquired a new position in Shutterstock during the 2nd quarter valued at approximately $1,359,000. State Board of Administration of Florida Retirement System increased its stake in Shutterstock by 3.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 16,193 shares of the business services provider’s stock valued at $635,000 after purchasing an additional 540 shares in the last quarter. Swiss National Bank increased its stake in Shutterstock by 2.0% during the 2nd quarter. Swiss National Bank now owns 35,900 shares of the business services provider’s stock valued at $1,407,000 after purchasing an additional 700 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Shutterstock by 7.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 13,323 shares of the business services provider’s stock valued at $522,000 after purchasing an additional 947 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in Shutterstock during the 2nd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 56.86% of the company’s stock.

In related news, Director Deirdre Mary Bigley sold 1,592 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $39.41, for a total transaction of $62,740.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 46.80% of the stock is owned by corporate insiders.

SSTK has been the topic of several recent research reports. Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. ValuEngine raised shares of Shutterstock from a “sell” rating to a “hold” rating in a report on Monday, August 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $44.00 price objective on shares of Shutterstock in a report on Monday, August 5th.

Shares of SSTK stock traded down $0.53 during trading hours on Friday, hitting $34.90. The company’s stock had a trading volume of 166,605 shares, compared to its average volume of 264,312. The company has a 50 day moving average of $37.33 and a 200 day moving average of $41.20. The stock has a market cap of $1.25 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11. Shutterstock Inc has a 12-month low of $31.77 and a 12-month high of $55.76.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $161.74 million for the quarter, compared to the consensus estimate of $171.93 million. Shutterstock had a net margin of 5.19% and a return on equity of 13.64%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Research analysts expect that Shutterstock Inc will post 0.62 EPS for the current year.

About Shutterstock

Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.

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Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

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