Shutterstock (NYSE:SSTK) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Shutterstock (NYSE:SSTK) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

Shutterstock Stock Performance

Shares of NYSE SSTK opened at $22.21 on Friday. Shutterstock has a 1 year low of $14.35 and a 1 year high of $38.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. The company’s fifty day moving average price is $22.43 and its 200 day moving average price is $20.30. The company has a market capitalization of $788.68 million, a PE ratio of 13.22 and a beta of 1.21.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). The business had revenue of $260.09 million during the quarter, compared to analysts’ expectations of $255.60 million. Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share. On average, research analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, December 4th. This represents a $1.32 dividend on an annualized basis and a yield of 5.9%. Shutterstock’s dividend payout ratio (DPR) is presently 78.57%.

Hedge Funds Weigh In On Shutterstock

Institutional investors have recently bought and sold shares of the company. Alpine Associates Management Inc. purchased a new position in shares of Shutterstock during the 1st quarter worth $11,177,000. Callodine Capital Management LP acquired a new stake in shares of Shutterstock in the second quarter valued at $7,835,000. Millennium Management LLC raised its holdings in shares of Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after buying an additional 327,203 shares during the period. Invenomic Capital Management LP lifted its stake in Shutterstock by 47.1% during the 1st quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock worth $16,488,000 after acquiring an additional 283,532 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in Shutterstock by 63.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 538,670 shares of the business services provider’s stock worth $10,035,000 after acquiring an additional 209,840 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.