Shutterstock (NYSE:SSTK) Research Coverage Started at StockNews.com

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

A number of other analysts have also recently issued reports on SSTK. Needham & Company LLC decreased their target price on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Performance

Shares of SSTK opened at $19.18 on Friday. The company has a market capitalization of $669.27 million, a price-to-earnings ratio of 18.80 and a beta of 1.12. Shutterstock has a 52-week low of $18.63 and a 52-week high of $47.89. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $25.57 and a 200 day moving average price of $29.66.

Shutterstock (NYSE:SSTK) last issued its 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 during the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Research analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.88%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently modified their holdings of SSTK. Dimensional Fund Advisors LP increased its stake in Shutterstock by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock valued at $30,904,000 after buying an additional 189,015 shares during the period. State Street Corp increased its stake 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 acquiring an additional 13,039 shares during the period. Royce & Associates LP increased its stake in shares of Shutterstock by 18.1% during the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock worth $25,240,000 after acquiring an additional 127,399 shares during the period. Invenomic Capital Management LP raised its holdings in Shutterstock by 28.1% during the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after purchasing an additional 132,055 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after purchasing an additional 25,050 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.