Janney Montgomery Scott LLC Purchases 48,382 Shares of Shutterstock, Inc. (NYSE:SSTK)

Janney Montgomery Scott LLC boosted its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 159.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,652 shares of the business services provider's stock after acquiring an additional 48,382 shares during the period. Janney Montgomery Scott LLC owned 0.23% of Shutterstock worth $1,465,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Versant Capital Management Inc grew its position 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 purchasing an additional 1,336 shares in the last quarter. Amundi boosted its stake 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 purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. grew its holdings in Shutterstock by 167.6% during 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 buying an additional 1,565 shares in the last quarter. Palouse Capital Management Inc. lifted its holdings in shares of Shutterstock by 33.8% in the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock worth $109,000 after buying an additional 1,473 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Shutterstock in the fourth quarter worth about $134,000. Institutional investors own 82.79% of the company's stock.

Wall Street Analysts Forecast Growth

SSTK has been the topic of a number of recent analyst reports. Wall Street Zen upgraded 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 report on Monday, May 5th. Finally, Needham & Company LLC decreased their price target on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $43.67.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $18.81 on Friday. The company's fifty day moving average price is $18.03 and its 200-day moving average price is $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. 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.

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

Shutterstock Announces Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.02%. Shutterstock's dividend payout ratio (DPR) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.