Primecap Management Co. CA Has $1.59 Million Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Primecap Management Co. CA cut its holdings in Shutterstock, Inc. (NYSE:SSTK) by 47.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,300 shares of the business services provider’s stock after selling 47,500 shares during the period. Primecap Management Co. CA owned approximately 0.15% of Shutterstock worth $1,587,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SSTK. Hotchkis & Wiley Capital Management LLC bought a new stake in Shutterstock in the 3rd quarter valued at about $8,493,000. Royce & Associates LP raised its position in shares of Shutterstock by 18.1% in the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after buying an additional 127,399 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Shutterstock in the fourth quarter valued at approximately $1,400,000. Barclays PLC grew its position in Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after buying an additional 35,632 shares in the last quarter. Finally, Petrus Trust Company LTA bought a new position in Shutterstock during the 3rd quarter worth $1,149,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Up 1.2 %

Shares of NYSE SSTK opened at $19.55 on Thursday. The company has a market cap of $682.25 million, a price-to-earnings ratio of 19.17 and a beta of 1.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 12 month low of $18.63 and a 12 month high of $48.42. The stock has a 50-day moving average price of $26.40 and a two-hundred day moving average price of $30.12.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data 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). The company had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.33 per share. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 6.75%. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SSTK. StockNews.com initiated coverage on Shutterstock in a research report on Saturday, March 15th. They set a “hold” rating for the company. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, JMP Securities reiterated 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Company Profile

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.