Man Group plc Has $1.82 Million Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Man Group plc grew its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 220.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,980 shares of the business services provider’s stock after buying an additional 41,280 shares during the quarter. Man Group plc owned 0.17% of Shutterstock worth $1,820,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SSTK. Janney Montgomery Scott LLC boosted its holdings in Shutterstock by 14.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider’s stock worth $919,000 after purchasing an additional 3,734 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Shutterstock by 15.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider’s stock worth $407,000 after purchasing an additional 1,794 shares during the last quarter. KBC Group NV boosted its holdings in Shutterstock by 1.5% during the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider’s stock worth $2,005,000 after purchasing an additional 999 shares during the last quarter. R Squared Ltd purchased a new position in Shutterstock during the fourth quarter worth about $108,000. Finally, Palouse Capital Management Inc. boosted its holdings in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Stock Performance

Shares of SSTK stock opened at $18.02 on Friday. The firm has a market cap of $635.28 million, a price-to-earnings ratio of 17.67 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, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10. The firm’s 50-day simple moving average is $17.33 and its two-hundred day simple moving average is $24.92.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data 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). The company had revenue of $242.62 million during 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 was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. As a group, equities analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.33%. The ex-dividend date is Thursday, June 5th. Shutterstock’s dividend payout ratio (DPR) is currently 121.10%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SSTK shares. 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. Wall Street Zen started coverage on shares of Shutterstock in a report on Wednesday. They set a “buy” rating on the stock. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Shutterstock 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.