Equitec Proprietary Markets LLC Takes $57,000 Position in Shutterstock, Inc. $SSTK

Equitec Proprietary Markets LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 3,000 shares of the business services provider’s stock, valued at approximately $57,000. Shutterstock makes up approximately 0.1% of Equitec Proprietary Markets LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Alpine Associates Management Inc. purchased a new position in Shutterstock in the first quarter worth approximately $11,177,000. Millennium Management LLC lifted its position in shares of Shutterstock by 109.3% during the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after purchasing an additional 327,203 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of Shutterstock by 47.1% during the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock worth $16,488,000 after purchasing an additional 283,532 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Shutterstock by 63.8% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider’s stock worth $10,035,000 after purchasing an additional 209,840 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in Shutterstock by 21.7% in the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock valued at $12,414,000 after buying an additional 118,828 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Down 2.6%

SSTK opened at $21.41 on Friday. The firm has a market cap of $760.09 million, a price-to-earnings ratio of 12.74 and a beta of 1.21. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $38.80. The business’s 50 day moving average is $22.41 and its two-hundred day moving average is $20.21. The company has a quick ratio of 0.49, a current ratio of 0.53 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.48). The firm had revenue of $260.09 million during the quarter, compared to analyst estimates of $255.60 million. Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. Shutterstock’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 earnings per share. On average, research analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.00.

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.