Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a report issued on Wednesday morning. The brokerage issued a hold rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on SSTK. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Needham & Company LLC dropped their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Truist Financial cut their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Performance

NYSE SSTK opened at $25.33 on Wednesday. Shutterstock has a 52-week low of $25.13 and a 52-week high of $54.40. The company has a fifty day moving average of $29.96 and a 200-day moving average of $32.00. The company has a market capitalization of $883.11 million, a P/E ratio of 24.84 and a beta of 1.08. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Thursday, March 6th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is 117.65%.

Hedge Funds Weigh In On Shutterstock

Several institutional investors and hedge funds have recently bought and sold shares of SSTK. Covestor Ltd raised its holdings in Shutterstock by 9.5% during the 3rd quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after buying an additional 397 shares during the last quarter. Amundi lifted its holdings in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares during the period. Palouse Capital Management Inc. increased its stake in shares of Shutterstock by 13.7% during the fourth 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 period. Harbor Capital Advisors Inc. raised its holdings in shares of Shutterstock by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock valued at $1,066,000 after acquiring an additional 532 shares in the last quarter. Finally, Snowden Capital Advisors LLC boosted its holdings in Shutterstock by 5.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider’s stock valued at $325,000 after acquiring an additional 548 shares in the last quarter. 82.79% of the stock is currently owned by 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.