Union Square Park Capital Management LLC Makes New Investment in Shutterstock, Inc. $SSTK

Union Square Park Capital Management LLC purchased a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the fourth quarter, Holdings Channel reports. The fund purchased 110,000 shares of the business services provider’s stock, valued at approximately $2,101,000. Shutterstock makes up about 1.0% of Union Square Park Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors also recently bought and sold shares of SSTK. Callodine Capital Management LP raised its position in Shutterstock by 86.0% during the 3rd quarter. Callodine Capital Management LP now owns 768,705 shares of the business services provider’s stock worth $16,027,000 after buying an additional 355,478 shares during the last quarter. Millennium Management LLC increased its holdings 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 valued at $11,674,000 after purchasing an additional 327,203 shares in the last quarter. UBS Group AG increased its holdings in shares of Shutterstock by 72.7% during the 3rd quarter. UBS Group AG now owns 547,241 shares of the business services provider’s stock valued at $11,410,000 after purchasing an additional 230,413 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Shutterstock by 117.2% during the 2nd quarter. Bank of America Corp DE now owns 284,559 shares of the business services provider’s stock valued at $5,395,000 after purchasing an additional 153,575 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Shutterstock by 54.4% during the 4th quarter. Renaissance Technologies LLC now owns 202,301 shares of the business services provider’s stock valued at $3,864,000 after purchasing an additional 71,300 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SSTK shares. Zacks Research lowered shares of Shutterstock from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, June 5th. Wall Street Zen lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $7.00.

Shutterstock Price Performance

Shutterstock stock opened at $13.61 on Wednesday. The company’s fifty day moving average price is $16.02 and its 200 day moving average price is $17.29. Shutterstock, Inc. has a 1 year low of $12.78 and a 1 year high of $29.50. The stock has a market capitalization of $499.85 million, a P/E ratio of -23.46 and a beta of 1.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.51 and a current ratio of 0.51.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.44 dividend on an annualized basis and a yield of 10.6%. Shutterstock’s dividend payout ratio (DPR) is currently -248.28%.

Shutterstock Company 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.