6,197 Shares in Shutterstock, Inc. $SSTK Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. purchased a new position in Shutterstock, Inc. (NYSE:SSTK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,197 shares of the business services provider’s stock, valued at approximately $117,000.

Several other institutional investors also recently modified their holdings of the business. Invenomic Capital Management LP increased its stake in shares of Shutterstock by 47.1% in 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. Rice Hall James & Associates LLC increased its stake in shares of Shutterstock by 21.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock worth $12,414,000 after acquiring an additional 118,828 shares in the last quarter. Millennium Management LLC increased its stake 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 worth $11,674,000 after acquiring an additional 327,203 shares in the last quarter. Alpine Associates Management Inc. bought a new position in shares of Shutterstock in the 1st quarter worth about $11,177,000. Finally, Boston Trust Walden Corp increased its stake in Shutterstock by 1.2% during the 1st quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider’s stock valued at $10,388,000 after purchasing an additional 6,866 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Performance

Shares of NYSE SSTK opened at $22.43 on Monday. The firm’s 50-day moving average price is $20.83 and its 200-day moving average price is $18.99. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.20. The company has a market cap of $795.50 million, a PE ratio of 12.39 and a beta of 1.09. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $38.80.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.46). The company had revenue of $266.99 million for the quarter, compared to analysts’ expectations of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 EPS. As a group, analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.9%. Shutterstock’s dividend payout ratio (DPR) is presently 72.93%.

Analyst Ratings Changes

SSTK has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.67.

Shutterstock 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.