Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Shutterstock (NYSE:SSTK) in a report published on Tuesday. The brokerage issued a hold rating on the business services provider’s stock.

Other analysts have also issued research reports about the company. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC lowered their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Performance

NYSE:SSTK opened at $15.36 on Tuesday. The stock has a 50-day simple moving average of $21.87 and a two-hundred day simple moving average of $28.01. Shutterstock has a 52-week low of $14.35 and a 52-week high of $46.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $536.01 million, a PE ratio of 15.06 and a beta of 1.13.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same period in the prior year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 8.59%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock’s payout ratio is presently 130.69%.

Hedge Funds Weigh In On Shutterstock

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in shares of Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,336 shares in the last quarter. Amundi lifted its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after buying an additional 1,565 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Shutterstock in the fourth quarter worth about $108,000. Finally, Palouse Capital Management Inc. lifted its position in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after buying an additional 525 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

About Shutterstock

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.