Leuthold Group LLC Has $3.38 Million Stake in Shutterstock, Inc. (NYSE:SSTK)

Leuthold Group LLC raised its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,812 shares of the business services provider’s stock after buying an additional 3,525 shares during the period. Leuthold Group LLC owned about 0.21% of Shutterstock worth $3,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. TD Asset Management Inc boosted its stake in Shutterstock by 469.3% in the fourth quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after acquiring an additional 747,180 shares during the last quarter. Trigran Investments Inc. raised its stake in Shutterstock by 15.5% during the 4th quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock worth $58,647,000 after buying an additional 163,268 shares during the period. Brown Advisory Inc. bought a new position in Shutterstock during the fourth quarter worth about $21,242,000. International Assets Investment Management LLC lifted its holdings in Shutterstock by 4,728.0% during the fourth quarter. International Assets Investment Management LLC now owns 19,312 shares of the business services provider’s stock worth $932,000 after acquiring an additional 18,912 shares in the last quarter. Finally, Schroder Investment Management Group bought a new position in shares of Shutterstock during the 3rd quarter valued at about $7,046,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Insider Activity at Shutterstock

In other Shutterstock news, CEO Paul J. Hennessy purchased 12,500 shares of Shutterstock stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $38.38 per share, with a total value of $479,750.00. Following the transaction, the chief executive officer now owns 87,803 shares in the company, valued at approximately $3,369,879.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John Caine sold 5,439 shares of Shutterstock stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total transaction of $233,387.49. Following the sale, the insider now directly owns 1,974 shares in the company, valued at approximately $84,704.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul J. Hennessy bought 12,500 shares of the stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average price of $38.38 per share, for a total transaction 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 $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 Analyst Weigh In

Several research analysts have recently weighed in on SSTK shares. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a report on Tuesday, May 14th. Truist Financial cut 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. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Shutterstock Stock Up 1.3 %

Shutterstock stock traded up $0.49 during mid-day trading on Friday, hitting $39.28. 172,961 shares of the stock were exchanged, compared to its average volume of 482,243. Shutterstock, Inc. has a 12 month low of $33.80 and a 12 month high of $58.42. The firm’s fifty day simple moving average is $38.91 and its two-hundred day simple moving average is $43.76. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 15.04 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results 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. The firm had revenue of $214.32 million during the quarter, compared to analyst estimates of $211.03 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. As a group, analysts forecast that Shutterstock, Inc. will post 3.38 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

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

Shutterstock Company 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.