Shutterstock, Inc. (NYSE:SSTK) Short Interest Down 42.7% in April
by Doug Wharley · The Cerbat GemShutterstock, Inc. (NYSE:SSTK – Get Free Report) was the recipient of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,025,874 shares, a decline of 42.7% from the April 15th total of 1,790,012 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 243,018 shares, the short-interest ratio is currently 4.2 days.
Shutterstock Trading Up 0.8%
Shares of SSTK traded up $0.13 during trading hours on Monday, hitting $16.65. The company had a trading volume of 374,108 shares, compared to its average volume of 271,996. The firm has a market cap of $611.65 million, a P/E ratio of -28.70 and a beta of 1.10. The stock’s 50 day moving average price is $16.86 and its 200 day moving average price is $18.37. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.22. Shutterstock has a 52-week low of $14.36 and a 52-week high of $29.50.
Shutterstock (NYSE:SSTK – Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.38). The company had revenue of $220.22 million during the quarter, compared to analysts’ expectations of $252.28 million. Shutterstock had a positive return on equity of 14.12% and a negative net margin of 2.19%.The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. On average, research analysts predict that Shutterstock will post 2.73 EPS for the current year.
Shutterstock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.44 annualized dividend and a dividend yield of 8.6%. Shutterstock’s dividend payout ratio (DPR) is presently -248.28%.
Institutional Trading of Shutterstock
Several large investors have recently modified their holdings of SSTK. WealthCollab LLC grew its stake in shares of Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Shutterstock by 150.6% in the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the last quarter. Covestor Ltd grew its stake in shares of Shutterstock by 31.5% in the third quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock worth $62,000 after purchasing an additional 707 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Shutterstock by 72.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Shutterstock by 865.9% in the first quarter. Fifth Third Bancorp now owns 6,346 shares of the business services provider’s stock worth $105,000 after purchasing an additional 5,689 shares during the last quarter. 82.79% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SSTK. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Finally, Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Get Our Latest Analysis on SSTK
Shutterstock Company Profile
Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.
Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.