Quantbot Technologies LP Raises Position in Shutterstock, Inc. (NYSE:SSTK)

Quantbot Technologies LP lifted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 138.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,836 shares of the business services provider’s stock after buying an additional 17,342 shares during the period. Quantbot Technologies LP’s holdings in Shutterstock were worth $1,055,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Shutterstock by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock worth $487,000 after buying an additional 309 shares in the last quarter. Cascade Investment Advisors Inc. lifted its holdings in Shutterstock by 1.2% during the third quarter. Cascade Investment Advisors Inc. now owns 27,430 shares of the business services provider’s stock worth $970,000 after acquiring an additional 315 shares during the period. Covestor Ltd boosted its position in Shutterstock by 9.5% in the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after purchasing an additional 397 shares during the last quarter. Palouse Capital Management Inc. grew its stake in Shutterstock by 20.7% in the 2nd quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 665 shares during the period. Finally, Quest Partners LLC increased its position in shares of Shutterstock by 17.9% during the 2nd quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock valued at $209,000 after purchasing an additional 822 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on SSTK. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Shutterstock in a research report on Tuesday, October 29th. StockNews.com downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Finally, Truist Financial dropped their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th.

Shutterstock Stock Performance

Shares of SSTK stock opened at $31.68 on Friday. The firm’s 50 day moving average is $31.87 and its 200 day moving average is $35.73. The stock has a market capitalization of $1.10 billion, a P/E ratio of 31.06 and a beta of 1.10. Shutterstock, Inc. has a 12 month low of $28.85 and a 12 month high of $54.40. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.99 earnings per share. On average, sell-side analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 3.79%. Shutterstock’s dividend payout ratio is currently 117.65%.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.