Hsbc Holdings PLC Purchases Shares of 9,039 Shutterstock, Inc. (NYSE:SSTK)

Hsbc Holdings PLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,039 shares of the business services provider’s stock, valued at approximately $277,000.

Several other hedge funds have also modified their holdings of SSTK. Dimensional Fund Advisors LP boosted its holdings in shares of Shutterstock by 22.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock valued at $30,904,000 after purchasing an additional 189,015 shares during the last quarter. Royce & Associates LP boosted its holdings in 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 acquiring an additional 127,399 shares during the last quarter. Rice Hall James & Associates LLC grew its position in Shutterstock by 3.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock valued at $16,617,000 after acquiring an additional 18,133 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Shutterstock by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider’s stock worth $10,659,000 after purchasing an additional 30,309 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Shutterstock in the 4th quarter valued at about $9,903,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Stock Down 0.4 %

NYSE:SSTK opened at $18.69 on Friday. The stock has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $25.79. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The company has a market capitalization of $658.90 million, a price-to-earnings ratio of 18.32 and a beta of 1.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

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

Shutterstock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be given a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.06%. Shutterstock’s dividend payout ratio is presently 121.10%.

Analyst Upgrades and Downgrades

SSTK has been the topic of several research reports. Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Monday, May 5th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.33.

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.