Copper Rock Capital Partners LLC Cuts Position in Shutterstock Inc. (SSTK)
Copper Rock Capital Partners LLC reduced its position in Shutterstock Inc. (NYSE:SSTK) by 0.9% during the third quarter, Holdings Channel reports. The firm owned 433,376 shares of the company’s stock after selling 3,998 shares during the period. Shutterstock comprises about 1.8% of Copper Rock Capital Partners LLC’s portfolio, making the stock its 21st largest position. Copper Rock Capital Partners LLC’s holdings in Shutterstock were worth $27,212,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Societe Generale purchased a new stake in Shutterstock during the second quarter worth about $100,000. Acrospire Investment Management LLC purchased a new stake in Shutterstock during the first quarter worth about $103,000. Teacher Retirement System of Texas increased its stake in Shutterstock by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 2,765 shares of the company’s stock worth $127,000 after buying an additional 330 shares in the last quarter. Legal & General Group Plc increased its stake in Shutterstock by 3.5% in the first quarter. Legal & General Group Plc now owns 3,642 shares of the company’s stock worth $134,000 after buying an additional 122 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Shutterstock by 79.7% in the second quarter. Royal Bank of Canada now owns 2,929 shares of the company’s stock worth $134,000 after buying an additional 1,299 shares in the last quarter. 64.02% of the stock is owned by institutional investors and hedge funds.
Shares of Shutterstock Inc. (NYSE:SSTK) traded down 0.92% on Thursday, hitting $62.46. The company had a trading volume of 30,689 shares. Shutterstock Inc. has a 52 week low of $25.44 and a 52 week high of $65.16. The stock’s 50-day moving average is $60.82 and its 200 day moving average is $48.92. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 93.36 and a beta of 1.68.
Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. Shutterstock had a return on equity of 11.05% and a net margin of 5.24%. The company had revenue of $124.40 million for the quarter, compared to the consensus estimate of $124.29 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities analysts expect that Shutterstock Inc. will post $1.45 EPS for the current year.
A number of research firms have issued reports on SSTK. Deutsche Bank AG boosted their price target on Shutterstock from $42.00 to $56.00 and gave the company a “hold” rating in a research note on Tuesday, August 9th. Cantor Fitzgerald restated a “buy” rating on shares of Shutterstock in a research note on Wednesday, June 22nd. Jefferies Group restated a “hold” rating on shares of Shutterstock in a research note on Monday, July 11th. Finally, Zacks Investment Research downgraded Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $55.00.
Shutterstock, Inc (Shutterstock) is a global provider of creative content and commercial music. The Company’s creative content includes digital imagery, which consists of licensed photographs, vectors, illustrations and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications and video content.
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