P2 Capital Partners Lowers stake in Shutterfly (SFLY)

Shutterfly (SFLY) : P2 Capital Partners reduced its stake in Shutterfly by 7.99% during the most recent quarter end. The investment management company now holds a total of 1,336,828 shares of Shutterfly which is valued at $68,191,596 after selling 116,100 shares in Shutterfly , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Shutterfly makes up approximately 10.78% of P2 Capital Partners’s portfolio.

Other Hedge Funds, Including , Nokomis Capital L.l.c. reduced its stake in SFLY by selling 6,752 shares or 2.07% in the most recent quarter. The Hedge Fund company now holds 319,544 shares of SFLY which is valued at $16,299,939. Shutterfly makes up approx 3.82% of Nokomis Capital L.l.c.’s portfolio.Cipher Capital Lp boosted its stake in SFLY in the latest quarter, The investment management firm added 18,312 additional shares and now holds a total of 43,948 shares of Shutterfly which is valued at $2,241,787. Shutterfly makes up approx 0.15% of Cipher Capital Lp’s portfolio.Connors Investor Services Inc reduced its stake in SFLY by selling 392 shares or 0.69% in the most recent quarter. The Hedge Fund company now holds 56,577 shares of SFLY which is valued at $2,885,993. Shutterfly makes up approx 0.52% of Connors Investor Services Inc’s portfolio.Blackrock Fund Advisors reduced its stake in SFLY by selling 18,162 shares or 2.1% in the most recent quarter. The Hedge Fund company now holds 846,477 shares of SFLY which is valued at $43,178,792. Shutterfly makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.

Shutterfly closed down -0.18 points or -0.36% at $50.04 with 4,68,567 shares getting traded on Thursday. Post opening the session at $50.19, the shares hit an intraday low of $49.2515 and an intraday high of $50.69 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Shutterfly reported $-0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.66. The company had revenue of $204.00 million for the quarter, compared to analysts expectations of $200.06 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.63 EPS.

Many Wall Street Analysts have commented on Shutterfly. Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 56 from a previous price target of $55 .Axiom Capital Downgraded Shutterfly on Jul 20, 2016 to ” Hold”, Price Target of the shares are set at $52.

Shutterfly Inc. is a manufacturer and digital retailer of personalized photo-based products and services. The Company’s segments include Consumer and Enterprise. Its products and services are offered through a family of lifestyle brands including Shutterfly Tiny Prints Wedding Paper Divas ThisLife MyPublisher and BorrowLenses. The Company produces and sells bound photo books greeting and stationery cards personalized calendars other photo-based merchandise and prints. It sells a range of photo-based merchandise such as calendars mugs canvas prints mouse pads magnets and puzzles. The Consumer segment sells photo-based products such as photo books stationery and greeting cards other photo-based merchandise photo prints and also ships as well as rents the BorrowLenses brand of products. The Enterprise segment is engaged in printing and shipping of direct marketing and other variable data print products and formats.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *