Hussman Strategic Advisors Inc. Acquires 21,000 Shares of Shutterstock, Inc. (NYSE:SSTK)

Hussman Strategic Advisors Inc. boosted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the business services provider’s stock after purchasing an additional 21,000 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Shutterstock were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in Shutterstock in the 3rd quarter worth approximately $31,000. R Squared Ltd bought a new stake in Shutterstock in the 4th quarter worth approximately $108,000. Palouse Capital Management Inc. increased its stake in Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares during the last quarter. Covestor Ltd increased its stake 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 last quarter. Finally, Moors & Cabot Inc. bought a new stake in Shutterstock in the 3rd quarter worth approximately $284,000. Institutional investors own 82.79% of the company’s stock.

Shutterstock Price Performance

SSTK opened at $26.91 on Thursday. Shutterstock, Inc. has a 12-month low of $26.64 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. The business’s fifty day simple moving average is $30.22 and its 200-day simple moving average is $32.13. The company has a market capitalization of $938.05 million, a price-to-earnings ratio of 26.38 and a beta of 1.08.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.91%. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC dropped their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. StockNews.com began coverage on Shutterstock in a report on Wednesday. They issued a “hold” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average target price of $50.33.

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.