Tieton Capital Management LLC Invests $5.32 Million in Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 137,455 shares of the business services provider's stock, valued at approximately $5,320,000. Shutterstock accounts for 3.0% of Tieton Capital Management LLC's holdings, making the stock its 17th biggest holding. Tieton Capital Management LLC owned approximately 0.38% of Shutterstock as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Texas Permanent School Fund Corp grew its holdings in Shutterstock by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 20,941 shares of the business services provider's stock worth $959,000 after acquiring an additional 271 shares during the period. ProShare Advisors LLC increased its holdings in Shutterstock by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider's stock worth $227,000 after purchasing an additional 342 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Shutterstock by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 146,428 shares of the business services provider's stock valued at $7,070,000 after buying an additional 372 shares during the period. Quest Partners LLC lifted its stake in Shutterstock by 17.9% in the second quarter. Quest Partners LLC now owns 5,406 shares of the business services provider's stock valued at $209,000 after buying an additional 822 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Shutterstock by 69.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider's stock worth $79,000 after buying an additional 838 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price objective on shares of Shutterstock in a report on Tuesday, August 6th. Finally, Morgan Stanley increased their price objective on shares of Shutterstock from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd.

Shutterstock Trading Up 4.2 %

NYSE SSTK traded up $1.40 during mid-day trading on Tuesday, hitting $35.13. The company's stock had a trading volume of 814,133 shares, compared to its average volume of 499,512. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 13.07 and a beta of 1.09. The company's 50 day simple moving average is $37.26 and its 200 day simple moving average is $40.38. Shutterstock, Inc. has a twelve month low of $32.38 and a twelve month high of $54.40.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The business had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.44 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Shutterstock, Inc. will post 3.22 EPS for the current year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, August 29th. Shutterstock's dividend payout ratio (DPR) is presently 46.51%.

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.