Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC cut their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial downgraded shares of 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shutterstock currently has an average rating of “Hold” and a consensus target price of $45.33.

Shutterstock Trading Down 6.5 %

Shares of SSTK opened at $14.45 on Tuesday. The stock’s 50-day moving average price is $22.66 and its 200 day moving average price is $28.36. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $504.22 million, a price-to-earnings ratio of 14.17 and a beta of 1.13. Shutterstock has a 12-month low of $14.35 and a 12-month high of $46.10.

Shutterstock (NYSE:SSTK) last issued its 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 business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same quarter last year, the firm posted $0.72 earnings per share. Shutterstock’s revenue was up 15.2% on a year-over-year basis. As a group, research analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 9.13%. Shutterstock’s payout ratio is 130.69%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SSTK. Amundi increased its holdings in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after acquiring an additional 488 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Shutterstock by 11.3% in the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider’s stock valued at $155,000 after buying an additional 515 shares during the period. Palouse Capital Management Inc. increased its position in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after acquiring an additional 532 shares during the period. Finally, Snowden Capital Advisors LLC lifted its position in Shutterstock by 5.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 548 shares in the last quarter. Institutional investors 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.