Ancora Advisors LLC Invests $319,000 in Shutterstock, Inc. $SSTK

Key Points

• Ancora Advisors LLC has acquired 17,118 shares of Shutterstock, Inc. for approximately $319,000, marking a significant addition to their portfolio in the first quarter.
• Shutterstock recently declared a quarterly dividend of $0.33 per share, with a dividend yield of 6.6% and a payout ratio of 72.93%.
• Despite a year-over-year revenue increase of 21.3%, Shutterstock's earnings per share missed analysts' expectations, reporting $1.19 instead of the anticipated $1.65.

Ancora Advisors LLC bought a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,118 shares of the business services provider's stock, valued at approximately $319,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Performa Ltd US LLC purchased a new position in Shutterstock during the 1st quarter valued at about $25,000. Versant Capital Management Inc boosted its holdings in Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,336 shares during the period. HHM Wealth Advisors LLC purchased a new position in Shutterstock during the 1st quarter valued at about $28,000. CWM LLC increased its position in shares of Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock worth $34,000 after acquiring an additional 876 shares during the period. Finally, Palouse Capital Management Inc. increased its position in shares of Shutterstock by 33.8% during the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock worth $109,000 after acquiring an additional 1,473 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Stock Down 0.9%

Shares of NYSE SSTK traded down $0.19 during midday trading on Friday, hitting $20.96. 137,677 shares of the company's stock were exchanged, compared to its average volume of 190,787. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $38.80. The company has a market cap of $743.45 million, a PE ratio of 11.58 and a beta of 1.05. The firm's fifty day simple moving average is $20.22 and its 200-day simple moving average is $18.92.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.The business had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. During the same period last year, the business posted $1.00 EPS. Shutterstock's revenue was up 21.3% on a year-over-year basis. Research analysts predict 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, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.3%. Shutterstock's payout ratio is 72.93%.

Wall Street Analysts Forecast Growth

SSTK has been the topic of a number of recent research reports. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Needham & Company LLC cut their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Shutterstock has an average rating of "Hold" and an average price target of $43.67.

Shutterstock Company 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.