Tieton Capital Management LLC Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC acquired a new stake in shares of Shutterstock, Inc. (NYSE:SSTK) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 137,455 shares of the business services provider’s stock, valued at approximately $5,320,000. Shutterstock makes up about 3.0% of Tieton Capital Management LLC’s investment portfolio, making the stock its 17th biggest position.

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

Shutterstock Price Performance

Shares of SSTK stock opened at $33.71 on Tuesday. The company has a market cap of $1.21 billion, a PE ratio of 13.07 and a beta of 1.09. Shutterstock, Inc. has a 1 year low of $32.38 and a 1 year high of $54.40. The stock’s 50 day simple moving average is $37.26 and its two-hundred day simple moving average is $40.38.

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

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.56%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th. Finally, StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Saturday.

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.