Leuthold Group LLC Invests $3.39 Million in Shutterstock, Inc. (NYSE:SSTK)

Leuthold Group LLC purchased a new stake in Shutterstock, Inc. (NYSE:SSTK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 70,287 shares of the business services provider’s stock, valued at approximately $3,393,000. Leuthold Group LLC owned about 0.20% of Shutterstock at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SSTK. LSV Asset Management lifted its holdings in shares of Shutterstock by 3,416.1% during the third quarter. LSV Asset Management now owns 936,937 shares of the business services provider’s stock worth $35,650,000 after purchasing an additional 910,290 shares during the period. Trigran Investments Inc. boosted its holdings in shares of Shutterstock by 171.7% in the third quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider’s stock valued at $40,008,000 after acquiring an additional 664,522 shares in the last quarter. Copeland Capital Management LLC increased its stake in shares of Shutterstock by 37.3% during the fourth quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock worth $67,316,000 after acquiring an additional 378,450 shares during the period. Wellington Management Group LLP raised its holdings in Shutterstock by 32.9% during the third quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider’s stock worth $35,940,000 after purchasing an additional 234,030 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Shutterstock in the third quarter valued at about $7,046,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Up 0.8 %

Shares of SSTK traded up $0.32 during midday trading on Tuesday, hitting $40.26. The stock had a trading volume of 24,429 shares, compared to its average volume of 493,341. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $58.42. The business has a 50-day simple moving average of $45.19 and a two-hundred day simple moving average of $45.16. The firm has a market cap of $1.44 billion, a P/E ratio of 15.48 and a beta of 1.13.

Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.33 by $0.13. The business had revenue of $217.22 million during the quarter, compared to analysts’ expectations of $224.04 million. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. On average, analysts expect that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. Shutterstock’s payout ratio is 46.51%.

Insider Buying and Selling at Shutterstock

In related news, insider John Caine sold 5,439 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total transaction of $233,387.49. Following the transaction, the insider now owns 1,974 shares of the company’s stock, valued at $84,704.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 32.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SSTK. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of Shutterstock in a research report on Thursday, May 2nd. Morgan Stanley initiated coverage on shares of Shutterstock in a research report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price objective on the stock. Finally, Truist Financial cut their target price on shares of Shutterstock from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.25.

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.