Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in Shutterstock, Inc. (NYSE:SSTK) by 317.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,928 shares of the business services provider’s stock after acquiring an additional 40,264 shares during the quarter. BNP Paribas Financial Markets’ holdings in Shutterstock were worth $1,606,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amundi grew 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 last quarter. PNC Financial Services Group Inc. grew 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 last quarter. R Squared Ltd purchased a new position in Shutterstock in the 4th quarter valued at $108,000. Palouse Capital Management Inc. grew 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 last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Shutterstock in the 4th quarter valued at $134,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $18.65 on Monday. The firm has a market capitalization of $657.49 million, a P/E ratio of 18.28 and a beta of 1.10. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The company’s fifty day moving average is $17.46 and its two-hundred day moving average is $25.31. 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 issued its earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.23). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $242.62 million for the quarter, compared to analysts’ expectations of $249.44 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Shutterstock’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The firm 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 of this dividend is Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 7.08%. Shutterstock’s dividend payout ratio is presently 121.10%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SSTK. Needham & Company LLC lowered their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, May 5th. Finally, StockNews.com assumed coverage on shares of Shutterstock in a research report on Tuesday, May 13th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.33.

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.