Shutterstock, Inc. (NYSE:SSTK) Holdings Boosted by Leuthold Group LLC

Leuthold Group LLC boosted its holdings in Shutterstock, Inc. (NYSE:SSTK) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,812 shares of the business services provider’s stock after acquiring an additional 3,525 shares during the period. Leuthold Group LLC’s holdings in Shutterstock were worth $3,381,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its stake in shares of Shutterstock by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 20,941 shares of the business services provider’s stock valued at $959,000 after acquiring an additional 271 shares during the period. GSA Capital Partners LLP grew its position in Shutterstock by 137.4% in the first quarter. GSA Capital Partners LLP now owns 19,667 shares of the business services provider’s stock worth $901,000 after buying an additional 11,381 shares during the last quarter. BNP Paribas Financial Markets grew its position in Shutterstock by 14.2% in the first quarter. BNP Paribas Financial Markets now owns 97,344 shares of the business services provider’s stock worth $4,459,000 after buying an additional 12,110 shares during the last quarter. Vest Financial LLC acquired a new position in Shutterstock in the first quarter worth approximately $792,000. Finally, Principal Financial Group Inc. grew its position in Shutterstock by 2.8% in the first quarter. Principal Financial Group Inc. now owns 150,479 shares of the business services provider’s stock worth $6,893,000 after buying an additional 4,051 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Insider Activity at Shutterstock

In other Shutterstock news, CEO Paul J. Hennessy bought 12,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average price of $38.38 per share, with a total value of $479,750.00. Following the completion of the purchase, the chief executive officer now directly owns 87,803 shares in the company, valued at approximately $3,369,879.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Shutterstock news, insider John Caine sold 5,439 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total value of $233,387.49. Following the transaction, the insider now directly owns 1,974 shares in the company, valued at $84,704.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul J. Hennessy purchased 12,500 shares of Shutterstock stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $38.38 per share, for a total transaction of $479,750.00. Following the completion of the transaction, the chief executive officer now owns 87,803 shares of the company’s stock, valued at $3,369,879.14. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SSTK shares. Truist Financial lowered their price objective on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Shutterstock in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Shutterstock Trading Up 1.3 %

SSTK traded up $0.49 during trading on Friday, hitting $39.28. The stock had a trading volume of 172,961 shares, compared to its average volume of 482,243. The firm has a market cap of $1.41 billion, a PE ratio of 15.04 and a beta of 1.12. Shutterstock, Inc. has a 12 month low of $33.80 and a 12 month high of $58.42. The company has a 50 day simple moving average of $38.91 and a 200-day simple moving average of $43.76.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.16. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. The company had revenue of $214.32 million for the quarter, compared to the consensus estimate of $211.03 million. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.38 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. Shutterstock’s payout ratio is currently 46.51%.

Shutterstock Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.