Carolina Wealth Advisors LLC Decreases Holdings in Shutterstock, Inc. (NYSE:SSTK)

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

A number of other large investors have also added to or reduced their stakes in SSTK. Versant Capital Management Inc raised its stake in shares of Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after buying an additional 1,336 shares during the period. Amundi increased its holdings in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after acquiring an additional 1,565 shares during the period. Palouse Capital Management Inc. lifted its holdings in Shutterstock by 33.8% during the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after purchasing an additional 1,473 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the fourth quarter valued at about $134,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

Analysts Set New Price Targets

SSTK has been the topic of several research reports. Wall Street Zen raised shares of Shutterstock to a "hold" rating in a research report on Saturday, June 14th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Needham & Company LLC dropped 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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.67.

Shutterstock Price Performance

NYSE:SSTK traded up $0.21 during trading hours on Friday, hitting $18.81. The stock had a trading volume of 725,409 shares, compared to its average volume of 507,244. The company has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $22.59. The firm has a market capitalization of $662.88 million, a price-to-earnings ratio of 17.25 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. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10.

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

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were given a $0.33 dividend. The ex-dividend date was Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.02%. Shutterstock's dividend payout ratio (DPR) is presently 121.10%.

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.