Shutterstock (NYSE:SSTK) Shares Gap Up – What’s Next?

Shutterstock, Inc. (NYSE:SSTK)’s share price gapped up prior to trading on Friday . The stock had previously closed at $16.43, but opened at $17.37. Shutterstock shares last traded at $17.67, with a volume of 56,750 shares.

Analyst Ratings Changes

A number of brokerages recently issued reports on SSTK. StockNews.com initiated coverage on shares of Shutterstock in a research report on Tuesday, April 8th. They set a “hold” rating on the stock. Needham & Company LLC cut their price objective 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. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Truist Financial lowered 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Up 2.1 %

The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $17.94 and its 200 day moving average price is $26.19. The company has a market capitalization of $585.52 million, a P/E ratio of 16.45 and a beta of 1.13.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. During the same quarter in the prior year, the business earned $1.13 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date is Thursday, June 5th. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Institutional Investors Weigh In On Shutterstock

Institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,336 shares during the last quarter. CWM LLC grew its stake in Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after buying an additional 876 shares during the last quarter. Amundi increased its holdings in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after acquiring an additional 1,565 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Shutterstock in the 4th quarter worth approximately $108,000. 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.