Shutterstock (NYSE:SSTK) Research Coverage Started at StockNews.com

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

SSTK has been the subject of a number of other reports. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, May 5th. Finally, Needham & Company LLC decreased their target price 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $18.84 on Tuesday. The company’s 50 day moving average price is $17.50 and its two-hundred day moving average price is $25.51. The firm has a market capitalization of $664.19 million, a P/E ratio of 18.47 and a beta of 1.10. Shutterstock has a fifty-two week low of $14.35 and a fifty-two week high of $46.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock (NYSE:SSTK) last announced its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. During the same period in the prior year, the business earned $1.13 EPS. Shutterstock’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts forecast that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 7.01%. Shutterstock’s dividend payout ratio is 121.10%.

Institutional Investors Weigh In On Shutterstock

Several institutional investors and hedge funds have recently modified their holdings of SSTK. Performa Ltd US LLC bought a new stake in Shutterstock during the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in shares of Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock worth $26,000 after buying an additional 1,336 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of Shutterstock in the first quarter worth approximately $28,000. CWM LLC boosted its holdings in shares of Shutterstock by 93.8% in the first quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after buying an additional 876 shares during the last quarter. Finally, Amundi lifted its holdings in Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.