Ancora Advisors LLC Takes $319,000 Position 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 acquired a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 17,118 shares of the business services provider's stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSTK. Performa Ltd US LLC acquired a new stake in shares of Shutterstock during the 1st quarter valued at $25,000. Versant Capital Management Inc increased 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 worth $26,000 after purchasing an additional 1,336 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Shutterstock during the first quarter worth about $28,000. CWM LLC increased its holdings in 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 buying an additional 876 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its position in shares of Shutterstock by 33.8% during the 1st quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after buying an additional 1,473 shares during the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Stock Performance

SSTK traded down $0.16 during midday trading on Tuesday, hitting $20.25. 108,040 shares of the company were exchanged, compared to its average volume of 206,357. The firm has a market capitalization of $718.27 million, a price-to-earnings ratio of 11.19 and a beta of 1.05. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20. The company's 50 day simple moving average is $20.17 and its 200 day simple moving average is $18.94. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The company had revenue of $266.99 million during the quarter, compared to analyst estimates of $248.27 million. During the same period in the prior year, the business posted $1.00 EPS. Shutterstock's revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 yield of 6.5%. Shutterstock's payout ratio is presently 72.93%.

Wall Street Analyst Weigh In

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

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.