Shutterstock (NYSE:SSTK) Shares Up 3.8% – Should You Buy?

Shutterstock, Inc. (NYSE:SSTK) shares were up 3.8% on Monday . The stock traded as high as $18.47 and last traded at $18.47. Approximately 394,634 shares were traded during trading, a decline of 25% from the average daily volume of 527,751 shares. The stock had previously closed at $17.79.

Wall Street Analysts Forecast Growth

SSTK has been the subject of several analyst reports. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. StockNews.com assumed coverage on shares of Shutterstock in a research note on Monday. They issued a “hold” rating on the stock. Needham & Company LLC reduced their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $632.98 million, a price-to-earnings ratio of 17.78 and a beta of 1.12. The firm’s fifty day simple moving average is $24.29 and its 200 day simple moving average is $29.13.

Shutterstock (NYSE:SSTK) last issued 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 during the quarter, compared to analyst estimates of $254.16 million. During the same period last year, the business earned $0.72 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. On average, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.28%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock’s payout ratio is currently 130.69%.

Institutional Investors Weigh In On Shutterstock

Institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Shutterstock by 11.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider’s stock worth $201,000 after buying an additional 682 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Shutterstock during the 4th quarter worth $2,716,000. Mackenzie Financial Corp acquired a new stake in shares of Shutterstock in the fourth quarter valued at about $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Shutterstock by 13.8% during the 4th 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 worth $1,753,000 after purchasing an additional 7,023 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in Shutterstock by 9.1% during the 4th 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. Institutional investors and hedge funds own 82.79% of the company’s stock.

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.