California First Leasing Corp Has $846,000 Stock Position in Shutterstock, Inc. (NYSE:SSTK)

California First Leasing Corp cut its position in Shutterstock, Inc. (NYSE:SSTK) by 43.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 27,885 shares of the business services provider’s stock after selling 21,500 shares during the quarter. California First Leasing Corp’s holdings in Shutterstock were worth $846,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Shutterstock in the third quarter valued at approximately $2,018,000. Rice Hall James & Associates LLC lifted its holdings in shares of Shutterstock by 40.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after purchasing an additional 153,154 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Shutterstock by 97.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock valued at $939,000 after purchasing an additional 13,088 shares during the period. Harbor Capital Advisors Inc. increased its stake in Shutterstock by 110.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after purchasing an additional 18,174 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Shutterstock in the third quarter valued at $430,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Trading Down 2.3 %

Shares of SSTK stock opened at $21.47 on Friday. 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 company has a market capitalization of $748.47 million, a price-to-earnings ratio of 21.05 and a beta of 1.08. Shutterstock, Inc. has a 52-week low of $21.37 and a 52-week high of $54.40. The company has a 50-day simple moving average of $29.34 and a two-hundred day simple moving average of $31.61.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The business had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, March 6th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 6.15%. Shutterstock’s dividend payout ratio (DPR) is currently 130.69%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SSTK shares. Needham & Company LLC decreased their target price on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com assumed coverage on Shutterstock in a report on Thursday. They set a “hold” rating for the company. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Shutterstock presently has an average rating of “Hold” and an average target price of $50.33.

Shutterstock 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.