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

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

SSTK has been the subject of several other research reports. Needham & Company LLC dropped their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report 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, Shutterstock has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Up 0.8 %

SSTK stock opened at $20.16 on Friday. The company has a market cap of $703.60 million, a price-to-earnings ratio of 19.77 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 has a 12 month low of $19.59 and a 12 month high of $54.40. The firm has a 50-day moving average of $28.18 and a two-hundred day moving average of $30.92.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. During the same period last year, the company earned $0.72 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.55%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Hedge Funds Weigh In On Shutterstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new position in Shutterstock in the 3rd quarter valued at approximately $31,000. Amundi boosted its position in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after buying an additional 488 shares during the period. PNC Financial Services Group Inc. boosted its position in Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,565 shares during the period. R Squared Ltd purchased a new position in Shutterstock in the 4th quarter valued at approximately $108,000. Finally, Palouse Capital Management Inc. boosted its position in Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.