Brown Advisory Inc. Decreases Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Brown Advisory Inc. trimmed its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 6.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 850,545 shares of the business services provider's stock after selling 58,653 shares during the period. Brown Advisory Inc. owned approximately 2.44% of Shutterstock worth $25,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Shutterstock during the fourth quarter valued at $9,903,000. Dimensional Fund Advisors LP increased its position in shares of Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock valued at $30,904,000 after purchasing an additional 189,015 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider's stock worth $25,240,000 after purchasing an additional 127,399 shares during the period. Tieton Capital Management LLC boosted its holdings in shares of Shutterstock by 73.3% in the fourth quarter. Tieton Capital Management LLC now owns 283,700 shares of the business services provider's stock worth $8,610,000 after buying an additional 120,025 shares during the last quarter. Finally, Villanova Investment Management Co LLC purchased a new stake in Shutterstock during the fourth quarter valued at approximately $2,269,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSTK has been the topic of a number of recent research reports. StockNews.com raised Shutterstock from a "hold" rating to a "buy" rating in a report on Monday. Needham & Company LLC lowered their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Shutterstock currently has an average rating of "Hold" and an average target price of $45.33.

Shutterstock Price Performance

Shares of NYSE SSTK traded down $0.07 during mid-day trading on Friday, reaching $18.69. The company's stock had a trading volume of 217,336 shares, compared to its average volume of 534,552. The stock has a fifty day moving average of $17.62 and a two-hundred day moving average of $25.87. The firm has a market capitalization of $658.90 million, a PE ratio of 18.32 and a beta of 1.10. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 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 - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.03% and a return on equity of 20.39%. The company had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same period last year, the business earned $1.13 earnings per share. The company's quarterly revenue was up 13.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders 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 dividend yield of 7.06%. Shutterstock's dividend payout ratio (DPR) is 121.10%.

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.