Municipal Employees Retirement System of Michigan Invests $193,000 in Shutterstock Inc (SSTK)

Municipal Employees Retirement System of Michigan purchased a new position in Shutterstock Inc (NYSE:SSTK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,360 shares of the business services provider’s stock, valued at approximately $193,000.

Several other large investors have also bought and sold shares of SSTK. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Shutterstock by 56.6% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 855 shares of the business services provider’s stock worth $31,000 after buying an additional 309 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Shutterstock by 56.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,324 shares of the business services provider’s stock worth $48,000 after purchasing an additional 476 shares during the period. NumerixS Investment Technologies Inc purchased a new position in Shutterstock during the fourth quarter worth about $82,000. Point72 Hong Kong Ltd purchased a new position in Shutterstock during the third quarter worth about $170,000. Finally, Quantamental Technologies LLC purchased a new position in Shutterstock during the fourth quarter worth about $173,000. 56.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SSTK stock opened at $48.13 on Wednesday. Shutterstock Inc has a 12 month low of $31.77 and a 12 month high of $55.76. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 1.80 and a beta of 1.30.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, February 26th. The business services provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.11. Shutterstock had a net margin of 8.77% and a return on equity of 11.55%. The business had revenue of $162.10 million during the quarter, compared to analysts’ expectations of $165.46 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts predict that Shutterstock Inc will post 1.08 EPS for the current fiscal year.

In related news, insider Martin Brodbeck sold 5,677 shares of Shutterstock stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $46.48, for a total value of $263,866.96. Following the completion of the transaction, the insider now owns 41,619 shares in the company, valued at $1,934,451.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 47.20% of the company’s stock.

Separately, Zacks Investment Research raised shares of Shutterstock from a “sell” rating to a “hold” rating in a research note on Saturday, March 9th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $42.33.

TRADEMARK VIOLATION NOTICE: “Municipal Employees Retirement System of Michigan Invests $193,000 in Shutterstock Inc (SSTK)” was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://www.com-unik.info/2019/04/17/municipal-employees-retirement-system-of-michigan-invests-193000-in-shutterstock-inc-sstk.html.

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.

See Also: How a Strangle Strategy is different from a Straddle Strategy

Want to see what other hedge funds are holding SSTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterstock Inc (NYSE:SSTK).

Institutional Ownership by Quarter for Shutterstock (NYSE:SSTK)

Receive News & Ratings for Shutterstock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shutterstock and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit