Tieton Capital Management LLC Acquires Shares of 137,455 Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC bought a new position in Shutterstock, Inc. (NYSE:SSTK) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 137,455 shares of the business services provider’s stock, valued at approximately $5,320,000. Shutterstock comprises approximately 3.0% of Tieton Capital Management LLC’s holdings, making the stock its 17th largest holding. Tieton Capital Management LLC owned approximately 0.38% of Shutterstock as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SSTK. Quantbot Technologies LP increased its holdings in Shutterstock by 2,203.3% in the 1st quarter. Quantbot Technologies LP now owns 23,010 shares of the business services provider’s stock worth $1,054,000 after buying an additional 22,011 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Shutterstock by 469.3% during the 4th quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after buying an additional 747,180 shares during the period. Trigran Investments Inc. lifted its holdings in shares of Shutterstock by 15.5% during the 4th quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock valued at $58,647,000 after buying an additional 163,268 shares during the period. Brown Advisory Inc. purchased a new position in shares of Shutterstock in the 4th quarter worth $21,242,000. Finally, Epoch Investment Partners Inc. grew its holdings in shares of Shutterstock by 68.8% in the first quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider’s stock worth $40,503,000 after acquiring an additional 360,415 shares during the period. Institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SSTK. StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley raised their price objective on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th.

Shutterstock Stock Up 0.6 %

Shares of SSTK opened at $33.71 on Tuesday. Shutterstock, Inc. has a 52 week low of $32.38 and a 52 week high of $54.40. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 13.07 and a beta of 1.09. The business has a 50-day simple moving average of $37.26 and a two-hundred day simple moving average of $40.38.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The firm had revenue of $220.05 million for the quarter, compared to the consensus estimate of $213.44 million. Shutterstock had a return on equity of 20.45% and a net margin of 5.33%. Shutterstock’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. On average, equities analysts anticipate that Shutterstock, Inc. will post 3.22 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, August 29th. Shutterstock’s dividend 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.