Shutterstock Inc (NYSE:SSTK) Short Interest Down 9.7% in June

Shutterstock Inc (NYSE:SSTK) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 3,035,000 shares, a decrease of 9.7% from the May 30th total of 3,359,400 shares. Currently, 16.3% of the company’s stock are sold short. Based on an average trading volume of 185,000 shares, the short-interest ratio is presently 16.4 days.

In other Shutterstock news, Director Thomas R. Evans sold 2,500 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $40.29, for a total value of $100,725.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Corporate insiders own 46.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund bought a new position in Shutterstock in the 4th quarter worth approximately $254,000. First Trust Advisors LP boosted its holdings in Shutterstock by 445.7% in the 4th quarter. First Trust Advisors LP now owns 71,562 shares of the business services provider’s stock worth $2,577,000 after buying an additional 58,448 shares during the period. BlackRock Inc. boosted its holdings in Shutterstock by 1.0% in the 4th quarter. BlackRock Inc. now owns 2,725,900 shares of the business services provider’s stock worth $98,160,000 after buying an additional 27,149 shares during the period. Texas Permanent School Fund boosted its holdings in Shutterstock by 4.2% in the 4th quarter. Texas Permanent School Fund now owns 12,152 shares of the business services provider’s stock worth $438,000 after buying an additional 492 shares during the period. Finally, NumerixS Investment Technologies Inc bought a new position in Shutterstock in the 4th quarter worth approximately $82,000. 57.44% of the stock is owned by hedge funds and other institutional investors.

Several research firms have commented on SSTK. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. SunTrust Banks reissued a “buy” rating and set a $25.00 target price on shares of Cardlytics in a research report on Tuesday, May 21st. Finally, Zacks Investment Research downgraded shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $41.00.

Shares of Shutterstock stock traded up $0.57 on Friday, reaching $38.90. 159,452 shares of the company traded hands, compared to its average volume of 158,567. Shutterstock has a 52 week low of $31.77 and a 52 week high of $55.76. The business has a 50 day moving average of $38.79. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 37.05, a PEG ratio of 1.67 and a beta of 1.13.

Shutterstock (NYSE:SSTK) last released its earnings results on Thursday, April 25th. The business services provider reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.04). Shutterstock had a net margin of 4.68% and a return on equity of 12.99%. The company had revenue of $163.33 million for the quarter, compared to the consensus estimate of $166.80 million. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that Shutterstock will post 0.93 EPS for the current fiscal year.

About Shutterstock

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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