Shutterstock (NYSE:SSTK) Issues Earnings Results

Shutterstock (NYSE:SSTK) announced its quarterly earnings data on Tuesday. The business services provider reported ($4.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($4.40), reports. Shutterstock had a negative net margin of 2.19% and a positive return on equity of 14.12%.

Shutterstock Stock Down 0.5%

SSTK traded down $0.03 during trading on Tuesday, hitting $6.03. 1,237,253 shares of the company’s stock traded hands, compared to its average volume of 564,897. The company’s 50 day simple moving average is $10.92 and its two-hundred day simple moving average is $15.00. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. Shutterstock has a 12-month low of $5.17 and a 12-month high of $29.50. The stock has a market capitalization of $221.42 million, a price-to-earnings ratio of -10.39 and a beta of 1.06.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SSTK. WealthCollab LLC boosted its position in shares of Shutterstock by 106.2% during the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock valued at $28,000 after buying an additional 748 shares during the last quarter. Osaic Holdings Inc. raised its position in Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after buying an additional 1,065 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after buying an additional 1,388 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Shutterstock during the 3rd quarter valued at about $111,000. Finally, BNP Paribas Financial Markets lifted its stake in Shutterstock by 59.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,879 shares of the business services provider’s stock valued at $143,000 after acquiring an additional 2,576 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SSTK. Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Friday, June 5th. Wall Street Zen lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Sunday, July 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Shutterstock in a research note on Friday. Finally, Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.