Assenagon Asset Management S.A. Takes $633,000 Position in Shutterstock, Inc. (NYSE:SSTK)

Assenagon Asset Management S.A. bought a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,971 shares of the business services provider's stock, valued at approximately $633,000. Assenagon Asset Management S.A. owned 0.10% of Shutterstock at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock worth $30,904,000 after buying an additional 189,015 shares in the last quarter. Royce & Associates LP increased its holdings in 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 acquiring an additional 127,399 shares in the last quarter. Invenomic Capital Management LP raised its stake in Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after acquiring an additional 132,055 shares during the period. Ameriprise Financial Inc. lifted its holdings in Shutterstock by 13.8% during the fourth quarter. Ameriprise Financial Inc. now owns 433,950 shares of the business services provider's stock valued at $13,170,000 after purchasing an additional 52,682 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Shutterstock by 2.1% during the fourth quarter. Northern Trust Corp now owns 384,879 shares of the business services provider's stock valued at $11,681,000 after purchasing an additional 7,945 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SSTK. Needham & Company LLC reduced their price objective on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Wall Street Zen raised Shutterstock to a "hold" rating in a research note on Saturday, June 14th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.67.

Shutterstock Price Performance

Shares of NYSE SSTK traded down $0.71 during midday trading on Friday, reaching $18.40. 403,880 shares of the stock traded hands, compared to its average volume of 508,925. The company's 50 day moving average is $17.69 and its 200 day moving average is $22.99. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $648.42 million, a PE ratio of 16.88 and a beta of 1.15.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly 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 net margin of 4.00% and a return on equity of 17.70%. The business had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same period in the previous year, the company earned $1.13 EPS. Shutterstock's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.18%. The ex-dividend date was Thursday, June 5th. Shutterstock's payout ratio is 121.10%.

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.