Kayne Anderson Rudnick Investment Management buys $144.1 Million stake in Shutterstock Inc (SSTK)

Shutterstock Inc (SSTK) : Kayne Anderson Rudnick Investment Management scooped up 217,121 additional shares in Shutterstock Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 3,601,712 shares of Shutterstock Inc which is valued at $144.1 Million.Shutterstock Inc makes up approximately 2.36% of Kayne Anderson Rudnick Investment Management’s portfolio.

Other Hedge Funds, Including , New York State Common Retirement Fund reduced its stake in SSTK by selling 26,956 shares or 49.04% in the most recent quarter. The Hedge Fund company now holds 28,016 shares of SSTK which is valued at $1.1 Million.Gilder Gagnon Howe Co reduced its stake in SSTK by selling 110 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 10,023 shares of SSTK which is valued at $409,139. Shutterstock Inc makes up approx 0.01% of Gilder Gagnon Howe Co’s portfolio. Quantbot Technologies Lp added SSTK to its portfolio by purchasing 205 company shares during the most recent quarter which is valued at $8,409.

Shutterstock Inc opened for trading at $41.76 and hit $42.72 on the upside on Wednesday, eventually ending the session at $42.28, with a gain of 1.61% or 0.67 points. The heightened volatility saw the trading volume jump to 1,65,515 shares. Company has a market cap of $1,480 M.

On the company’s financial health, Shutterstock Inc reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.29. The company had revenue of $116.70 million for the quarter, compared to analysts expectations of $115.85 million. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Shutterstock Inc. Shares were Reiterated by RBC Capital Mkts on Feb 25, 2016 to “Sector Perform” and Lowered the Price Target to $ 35 from a previous price target of $38 .

Shutterstock Inc. (Shutterstock) operates a global marketplace for commercial digital content including images video and music. The Company’s commercial digital imagery consists of licensed photographs illustrations and video clips that companies use in their visual communications such as Websites digital and print marketing materials corporate communications books publications and video content while commercial music consists of music tracks. The demand for commercial digital imagery and music comes from businesses marketing agencies and media organizations. It reaches new customers through a set of marketing channels including online display advertising print advertising tradeshows email marketing direct mail affiliate marketing public relations social media and partnerships. The Company’s online marketplace provides a freely searchable collection of commercial digital imagery and music that its users can pay to license download and incorporate into their work.

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