Shutterstock Inc (NYSE:SSTK) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totalling 3,648,100 shares, a growth of 5.5% from the June 30th total of 3,459,000 shares. Approximately 19.6% of the shares of the company are sold short. Based on an average daily volume of 186,800 shares, the short-interest ratio is currently 19.5 days.
Several analysts have recently commented on SSTK shares. Zacks Investment Research lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine upgraded shares of Shutterstock from a “sell” rating to a “hold” rating in a research report on Monday. Finally, SunTrust Banks reiterated a “hold” rating and issued a $44.00 price target on shares of Shutterstock in a report on Monday, August 5th.
SSTK stock traded up $0.03 during mid-day trading on Thursday, hitting $34.14. 10,106 shares of the company were exchanged, compared to its average volume of 235,062. The firm has a market cap of $1.20 billion, a P/E ratio of 32.66, a PEG ratio of 2.31 and a beta of 1.11. Shutterstock has a twelve month low of $31.77 and a twelve month high of $55.76. The stock’s fifty day moving average is $38.04.
Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $161.74 million during the quarter, compared to analyst estimates of $171.93 million. Shutterstock had a net margin of 5.19% and a return on equity of 13.64%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. Equities research analysts predict that Shutterstock will post 0.62 earnings per share for the current fiscal year.
In related news, Director Deirdre Mary Bigley sold 1,592 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $39.41, for a total transaction of $62,740.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 46.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc grew its holdings in Shutterstock by 100.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 800 shares of the business services provider’s stock worth $31,000 after acquiring an additional 400 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Shutterstock in the 1st quarter valued at about $78,000. Aperio Group LLC acquired a new position in shares of Shutterstock in the 2nd quarter valued at about $87,000. Quantamental Technologies LLC boosted its holdings in shares of Shutterstock by 2,525.0% in the 2nd quarter. Quantamental Technologies LLC now owns 2,625 shares of the business services provider’s stock valued at $103,000 after buying an additional 2,525 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Shutterstock by 876.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,354 shares of the business services provider’s stock valued at $203,000 after buying an additional 3,908 shares during the period. 57.49% of the stock is owned by institutional investors.
Shutterstock Company Profile
Shutterstock, Inc provides digital content, and tools and services in North America, Europe, and internationally. It offers digital imagery services that include licensed photographs, vectors, illustrations, and video clips, which is used in visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and music services comprising music tracks and sound effects that are used to complement digital imagery.
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