Shutterstock, Inc. (NYSE:SSTK) Shares Purchased by Quest Partners LLC

Quest Partners LLC boosted its stake in Shutterstock, Inc. (NYSE:SSTK) by 436.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,987 shares of the business services provider’s stock after acquiring an additional 23,581 shares during the quarter. Quest Partners LLC’s holdings in Shutterstock were worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in Shutterstock by 9.5% in the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after acquiring an additional 397 shares during the period. Verity Asset Management Inc. boosted its stake in shares of Shutterstock by 140.4% during the 3rd quarter. Verity Asset Management Inc. now owns 14,401 shares of the business services provider’s stock valued at $509,000 after buying an additional 8,411 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Shutterstock during the 3rd quarter valued at approximately $430,000. Harbor Capital Advisors Inc. boosted its stake in shares of 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 buying an additional 18,174 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Shutterstock by 97.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock valued at $939,000 after buying an additional 13,088 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Trading Up 3.1 %

NYSE:SSTK opened at $30.46 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 29.86 and a beta of 1.10. The stock has a fifty day simple moving average of $32.37 and a 200 day simple moving average of $36.22.

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

Shutterstock Announces Dividend

The firm 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 dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 3.94%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Analyst Ratings Changes

SSTK has been the topic of several research reports. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley lowered their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com lowered Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

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.