Shutterstock, Inc. (NYSE:SSTK) Stock Holdings Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 159.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,652 shares of the business services provider's stock after purchasing an additional 48,382 shares during the period. Janney Montgomery Scott LLC owned approximately 0.23% of Shutterstock worth $1,465,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in Shutterstock during the 4th quarter worth approximately $9,903,000. Dimensional Fund Advisors LP grew its stake in Shutterstock by 22.8% during 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 during the period. Invenomic Capital Management LP increased its position in shares of Shutterstock by 28.1% in the fourth 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 in the last quarter. Millennium Management LLC raised its stake in shares of Shutterstock by 77.6% in the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock valued at $9,087,000 after acquiring an additional 130,831 shares during the period. Finally, Royce & Associates LP raised its stake in shares of Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider's stock valued at $25,240,000 after acquiring an additional 127,399 shares during the period. Hedge funds and other institutional investors own 82.79% of the company's stock.

Shutterstock Stock Up 6.2%

Shutterstock stock traded up $1.17 during midday trading on Tuesday, hitting $20.13. 352,377 shares of the stock were exchanged, compared to its average volume of 504,406. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 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 firm has a market cap of $709.58 million, a P/E ratio of 18.47 and a beta of 1.15. The company has a 50 day moving average price of $18.16 and a two-hundred day moving average price of $22.34.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $249.44 million. During the same quarter in the prior year, the business earned $1.13 earnings per share. The firm's revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share 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. This represents a $1.32 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is currently 121.10%.

Wall Street Analyst Weigh In

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