Alpine Associates Management Inc. Has $13.86 Million Position in Shutterstock, Inc. $SSTK

Alpine Associates Management Inc. raised its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 21.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 731,086 shares of the business services provider’s stock after buying an additional 131,131 shares during the period. Alpine Associates Management Inc.’s holdings in Shutterstock were worth $13,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of SSTK. Victory Capital Management Inc. increased its stake in shares of Shutterstock by 33.3% during the first quarter. Victory Capital Management Inc. now owns 55,137 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 13,767 shares during the period. State of Alaska Department of Revenue increased its position in Shutterstock by 8.7% during the second quarter. State of Alaska Department of Revenue now owns 14,475 shares of the business services provider’s stock worth $273,000 after acquiring an additional 1,158 shares during the period. Principal Financial Group Inc. raised its stake in Shutterstock by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 152,272 shares of the business services provider’s stock worth $2,837,000 after purchasing an additional 3,233 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shutterstock by 12.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 395,906 shares of the business services provider’s stock worth $7,376,000 after purchasing an additional 44,702 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Shutterstock during the first quarter worth approximately $1,863,000. 82.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SSTK. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Price Performance

SSTK stock opened at $25.08 on Monday. The stock has a market cap of $889.41 million, a price-to-earnings ratio of 13.85 and a beta of 1.21. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49. The company has a 50 day simple moving average of $22.28 and a 200 day simple moving average of $20.04. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $38.80.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, November 4th. The business services provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($1.30). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.During the same quarter in the prior year, the firm posted $1.31 EPS. Research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

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.