Manning & Napier Advisors LLC Invests $1.36 Million in Shutterstock, Inc. $SSTK

Manning & Napier Advisors LLC bought a new stake in Shutterstock, Inc. (NYSE:SSTK) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 97,196 shares of the business services provider’s stock, valued at approximately $1,356,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. WealthCollab LLC grew its holdings in Shutterstock by 106.2% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after acquiring an additional 748 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,065 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 1,388 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in shares of Shutterstock during the 3rd quarter worth $111,000. Finally, Covestor Ltd lifted its position in shares of Shutterstock by 87.7% during the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock worth $106,000 after purchasing an additional 2,587 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

SSTK has been the topic of several recent analyst reports. Weiss Ratings lowered Shutterstock from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 13th. Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Sunday, July 26th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $7.00.

Shutterstock Trading Up 3.4%

Shares of Shutterstock stock opened at $5.54 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $13.48. The stock has a market cap of $204.78 million, a price-to-earnings ratio of -0.98 and a beta of 1.11. Shutterstock, Inc. has a 12-month low of $5.17 and a 12-month high of $29.50.

Shutterstock Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.