Janney Montgomery Scott LLC Has $861,000 Holdings in Shutterstock, Inc. $SSTK

Janney Montgomery Scott LLC cut its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 42.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,436 shares of the business services provider's stock after selling 33,216 shares during the quarter. Janney Montgomery Scott LLC owned about 0.13% of Shutterstock worth $861,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. SummerHaven Investment Management LLC increased its position in shares of Shutterstock by 4.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,243 shares of the business services provider's stock worth $422,000 after buying an additional 861 shares during the period. Signaturefd LLC increased its position in shares of Shutterstock by 10,268.8% during the second quarter. Signaturefd LLC now owns 1,659 shares of the business services provider's stock worth $31,000 after buying an additional 1,643 shares during the period. State of Alaska Department of Revenue grew its holdings in Shutterstock by 8.7% in the second quarter. State of Alaska Department of Revenue now owns 14,475 shares of the business services provider's stock worth $273,000 after purchasing an additional 1,158 shares during the period. Caitlin John LLC acquired a new stake in Shutterstock in the second quarter worth $278,000. Finally, GAMMA Investing LLC grew its holdings in Shutterstock by 71.8% in the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider's stock worth $38,000 after purchasing an additional 834 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Shutterstock in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Shutterstock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

Shutterstock Stock Up 11.3%

SSTK opened at $24.93 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49. The company's 50-day moving average is $21.21 and its 200 day moving average is $19.17. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $38.80. The firm has a market capitalization of $884.30 million, a P/E ratio of 13.77 and a beta of 1.09.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The firm had revenue of $266.99 million for the quarter, compared to the consensus estimate of $248.27 million. During the same period in the previous year, the business earned $1.00 earnings per share. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is presently 72.93%.

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.

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