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

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

Other analysts also recently issued research reports about the company. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC dropped their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 2.3 %

NYSE SSTK opened at $21.47 on Thursday. The stock has a market capitalization of $748.47 million, a price-to-earnings ratio of 21.05 and a beta of 1.08. Shutterstock has a 52 week low of $21.37 and a 52 week high of $54.40. The stock’s 50 day moving average price is $29.16 and its two-hundred day moving average price is $31.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for 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 business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts anticipate that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.15%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new position in Shutterstock in the 3rd quarter valued at about $2,018,000. Rice Hall James & Associates LLC boosted its holdings in shares of Shutterstock by 40.7% during the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after acquiring an additional 153,154 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Shutterstock by 97.3% in the third quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock valued at $939,000 after purchasing an additional 13,088 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Shutterstock by 110.7% during the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock worth $1,223,000 after purchasing an additional 18,174 shares during the period. Finally, Olympiad Research LP bought a new position in shares of Shutterstock during the third quarter worth approximately $430,000. 82.79% of the stock is owned by institutional investors and hedge funds.

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.