Shutterstock, Inc. (NYSE:SSTK) Shares Bought by Connors Investor Services Inc.

Connors Investor Services Inc. increased its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 27.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,039 shares of the business services provider's stock after acquiring an additional 19,426 shares during the quarter. Connors Investor Services Inc. owned approximately 0.26% of Shutterstock worth $2,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Amundi grew its holdings in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after purchasing an additional 488 shares during the period. Covestor Ltd boosted its stake in Shutterstock by 11.3% during the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after buying an additional 515 shares during the period. Palouse Capital Management Inc. raised its stake 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 acquiring an additional 525 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Shutterstock by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock worth $1,066,000 after purchasing an additional 532 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Shutterstock by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider's stock valued at $545,000 after purchasing an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SSTK. StockNews.com initiated coverage on Shutterstock in a research report on Tuesday, April 8th. They set a "hold" rating for the company. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday. Needham & Company LLC dropped their price target on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Finally, Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $45.33.

Shutterstock Stock Up 2.0 %

Shares of SSTK traded up $0.34 during midday trading on Monday, reaching $17.10. The stock had a trading volume of 70,282 shares, compared to its average volume of 536,320. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company's fifty day simple moving average is $17.94 and its two-hundred day simple moving average is $26.15. The company has a market cap of $596.69 million, a price-to-earnings ratio of 16.76 and a beta of 1.13. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.23). The business had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. Equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

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 issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.72%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's payout ratio is 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.