SRS Capital Advisors Inc. Has $29,000 Position in Shutterstock, Inc. (NYSE:SSTK)

SRS Capital Advisors Inc. boosted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 433.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 592 shares of the business services provider’s stock after buying an additional 481 shares during the period. SRS Capital Advisors Inc.’s holdings in Shutterstock were worth $29,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SSTK. Fifth Third Bancorp lifted its position in Shutterstock by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 289 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Shutterstock by 58.5% during the fourth quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider’s stock worth $43,000 after buying an additional 330 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Shutterstock by 317.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock worth $56,000 after buying an additional 890 shares in the last quarter. Covestor Ltd grew its holdings in shares of Shutterstock by 77.2% during the third quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock worth $88,000 after buying an additional 1,014 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Shutterstock by 47.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider’s stock valued at $113,000 after buying an additional 954 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Down 6.0 %

Shares of NYSE SSTK opened at $39.24 on Monday. The business’s 50 day moving average price is $45.32 and its two-hundred day moving average price is $45.14. The company has a market cap of $1.41 billion, a PE ratio of 15.21 and a beta of 1.13. Shutterstock, Inc. has a twelve month low of $33.80 and a twelve month high of $58.42.

Shutterstock (NYSE:SSTK) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. The business had revenue of $217.22 million for the quarter, compared to analyst estimates of $224.04 million. As a group, research analysts anticipate that Shutterstock, Inc. will post 3.13 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 3.06%. Shutterstock’s dividend payout ratio is currently 46.51%.

Wall Street Analyst Weigh In

SSTK has been the subject of several research reports. Truist Financial decreased their price target on shares of Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. StockNews.com cut Shutterstock from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley started coverage on Shutterstock in a research report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price target on shares of Shutterstock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Insiders Place Their Bets

In related news, insider John Caine sold 1,974 shares of Shutterstock stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $43.30, for a total transaction of $85,474.20. Following the completion of the sale, the insider now directly owns 7,413 shares of the company’s stock, valued at approximately $320,982.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 32.30% of the company’s stock.

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.