Shutterstock (NYSE:SSTK) Stock Price Up 6.8% – Time to Buy?

by · The Markets Daily

Shutterstock, Inc. (NYSE:SSTKGet Free Report)’s share price shot up 6.8% during trading on Tuesday . The company traded as high as $17.46 and last traded at $17.35. 59,483 shares were traded during trading, a decline of 82% from the average session volume of 326,816 shares. The stock had previously closed at $16.24.

Analysts Set New Price Targets

Several research firms have recently issued reports on SSTK. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

View Our Latest Analysis on SSTK

Shutterstock Trading Up 6.6%

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. The firm has a market cap of $615.25 million, a price-to-earnings ratio of 13.39 and a beta of 1.23. The business has a 50 day moving average price of $17.81 and a 200-day moving average price of $19.98.

Shutterstock (NYSE:SSTKGet Free Report) last released its quarterly earnings results on Tuesday, February 17th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38). The company had revenue of $220.22 million for the quarter, compared to analyst estimates of $252.28 million. Shutterstock had a return on equity of 16.13% and a net margin of 4.60%.The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. As a group, research analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 8.3%. This is a boost from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, March 5th. Shutterstock’s payout ratio is 111.63%.

Institutional Investors Weigh In On Shutterstock

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC grew its position in Shutterstock by 10.7% during the third quarter. Byrne Asset Management LLC now owns 4,272 shares of the business services provider’s stock valued at $89,000 after purchasing an additional 412 shares in the last quarter. WealthCollab LLC increased its stake in Shutterstock by 40.7% in the third quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 591 shares during the period. New York State Teachers Retirement System grew its stake in Shutterstock by 4.7% during the fourth quarter. New York State Teachers Retirement System now owns 13,437 shares of the business services provider’s stock worth $257,000 after buying an additional 601 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Shutterstock by 5.1% in the third quarter. Illinois Municipal Retirement Fund now owns 12,852 shares of the business services provider’s stock worth $268,000 after acquiring an additional 628 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Shutterstock by 0.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 113,450 shares of the business services provider’s stock worth $2,365,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

About Shutterstock

(Get Free Report)

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.

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