46,143 Shares in Shutterstock, Inc. (NYSE:SSTK) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 46,143 shares of the business services provider's stock, valued at approximately $1,400,000. Raymond James Financial Inc. owned 0.13% of Shutterstock at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SSTK. Amundi raised its stake in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,565 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Shutterstock in the 4th quarter valued at about $108,000. Palouse Capital Management Inc. boosted its position in shares of Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Shutterstock during the 4th quarter worth approximately $134,000. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Stock Performance

Shares of SSTK stock traded up $0.24 during mid-day trading on Thursday, hitting $17.58. The stock had a trading volume of 36,558 shares, compared to its average volume of 604,980. The firm has a market cap of $619.77 million, a PE ratio of 17.24 and a beta of 1.10. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $46.10. The company's 50-day simple moving average is $17.66 and its 200-day simple moving average is $25.94. 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 - Get Free Report) last released its earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same period last year, the business posted $1.13 EPS. Shutterstock's revenue was up 13.2% compared to the same quarter last year. Sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.51%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is 121.10%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SSTK. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday. StockNews.com raised shares of Shutterstock from a "hold" rating to a "buy" rating in a report on Monday. Finally, Needham & Company LLC dropped their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $45.33.

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.