NEW YORK (TheStreet) --Shares of Shutterfly Inc. (SFLY) are higher by 1.57% to $50.62 on heavy trading volume on Wednesday afternoon.
The online photo memory maker is reported to be close to finishing the process of reviewing offers to purchase the company.
So far, 4.68 million shares of Shutterfly exchanged hands as compared to its average daily volume of 735,000 shares.
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Several private equity firms are reported to have expressed interest in acquiring Shutterfly, including Hellman & Friedman LLC, Bain Capital LLC, and Silver Lake Partners LP.
The cutoff period for sending in offers to buy the company is the end of this week and a deal could be completed in September, Bloomberg reports.
Shutterfly may have a $2 billion sale value, sources told Bloomberg.
Separately, TheStreet Ratings team rates SHUTTERFLY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SHUTTERFLY INC (SFLY) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."