Aquatic Capital Management LLC Sells 56,968 Shares of Shutterstock, Inc. (NYSE:SSTK)

Aquatic Capital Management LLC lowered its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,532 shares of the business services provider's stock after selling 56,968 shares during the quarter. Aquatic Capital Management LLC owned approximately 0.09% of Shutterstock worth $987,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms have commented on SSTK. Needham & Company LLC reduced their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. StockNews.com assumed coverage on shares of Shutterstock in a report on Tuesday, April 8th. They set a "hold" rating for the company. 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 research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $45.33.

Shutterstock Stock Performance

Shares of SSTK stock traded up $0.35 on Friday, hitting $16.78. The company's stock had a trading volume of 356,615 shares, compared to its average volume of 538,182. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $46.10. The company has a market capitalization of $585.52 million, a PE ratio of 16.45 and a beta of 1.13. The stock's 50 day moving average is $17.94 and its 200-day moving average is $26.19. 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 (NYSE:SSTK - Get Free Report) last announced its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) 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 business had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. During the same quarter in the previous year, the company earned $1.13 EPS. The business's revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.87%. Shutterstock's dividend payout ratio is presently 130.69%.

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.