Carolina Wealth Advisors LLC Sells 32,451 Shares of Shutterstock, Inc. (NYSE:SSTK)

Carolina Wealth Advisors LLC reduced its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 29.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 77,947 shares of the business services provider's stock after selling 32,451 shares during the period. Shutterstock makes up approximately 0.8% of Carolina Wealth Advisors LLC's holdings, making the stock its 23rd biggest holding. Carolina Wealth Advisors LLC owned 0.22% of Shutterstock worth $1,452,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Amundi grew its holdings in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after buying an additional 488 shares in the last quarter. Covestor Ltd boosted its position in Shutterstock by 11.3% during the 4th quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after acquiring an additional 515 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of Shutterstock by 5.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider's stock worth $325,000 after acquiring an additional 548 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Shutterstock by 11.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock valued at $201,000 after purchasing an additional 682 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Shutterstock by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 15,631 shares of the business services provider's stock valued at $474,000 after purchasing an additional 1,026 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SSTK has been the subject of several recent research reports. Wall Street Zen upgraded shares of Shutterstock to a "hold" rating in a report on Saturday, June 14th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Finally, Needham & Company LLC lowered their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Shutterstock presently has an average rating of "Hold" and a consensus target price of $43.67.

Shutterstock Stock Performance

NYSE SSTK traded up $1.17 on Tuesday, hitting $20.13. 352,303 shares of the stock were exchanged, compared to its average volume of 503,862. The company has a market capitalization of $709.58 million, a PE ratio of 18.47 and a beta of 1.15. 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 business's fifty day moving average is $18.09 and its 200 day moving average is $22.36. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results 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 firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. The company's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. Research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were paid a dividend of $0.33 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.56%. Shutterstock's dividend payout ratio is currently 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.