Shutterstock (NYSE:SSTK) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a research note issued to investors on Monday morning. The firm issued a hold rating on the business services provider’s stock.

Several other equities analysts have also commented on the company. Morgan Stanley cut their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC lowered their price target 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. Finally, Truist Financial cut their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Shutterstock currently has a consensus rating of “Hold” and an average price target of $50.33.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $29.42 on Monday. Shutterstock has a 52 week low of $27.30 and a 52 week high of $54.40. The company has a market capitalization of $1.03 billion, a PE ratio of 28.84 and a beta of 1.08. The stock’s fifty day moving average is $30.93 and its two-hundred day moving average is $33.17. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is 117.65%.

Institutional Trading of Shutterstock

Several large investors have recently added to or reduced their stakes in SSTK. State Street Corp lifted its position in shares of Shutterstock by 1.4% during the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after purchasing an additional 13,039 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after buying an additional 25,050 shares in the last quarter. Rice Hall James & Associates LLC boosted its position in Shutterstock by 3.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock valued at $16,617,000 after buying an additional 18,133 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Shutterstock by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,895 shares of the business services provider’s stock worth $11,350,000 after acquiring an additional 13,539 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Shutterstock during the third quarter worth $8,493,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.