Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

by · The Markets Daily

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK – Free Report) in a report released on Friday morning. The firm issued a hold rating on the business services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.33.

Get Our Latest Research Report on Shutterstock

Shutterstock Stock Up 0.8 %

Shares of NYSE SSTK opened at $20.16 on Friday. The stock has a market capitalization of $703.60 million, a P/E ratio of 19.77 and a beta of 1.12. The company has a 50-day moving average price of $28.18 and a 200-day moving average price of $30.98. Shutterstock has a 1 year low of $19.59 and a 1 year high of $54.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock (NYSE:SSTK – Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, equities research analysts forecast that Shutterstock will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently announced 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. This represents a $1.32 dividend on an annualized basis and a yield of 6.55%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. Shutterstock’s payout ratio is presently 130.69%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Shutterstock in the fourth quarter valued at about $2,716,000. Mackenzie Financial Corp bought a new stake in shares of Shutterstock in the fourth quarter valued at approximately $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Shutterstock by 13.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider’s stock valued at $1,753,000 after purchasing an additional 7,023 shares during the period. Vident Advisory LLC raised its position in shares of Shutterstock by 9.1% in the fourth quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 1,321 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of Shutterstock by 83.9% in the fourth quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider’s stock valued at $2,343,000 after purchasing an additional 35,235 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

About Shutterstock

(Get Free Report)

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.

Featured Articles