Mackenzie Financial Corp bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,176 shares of the business services provider's stock, valued at approximately $552,000. Mackenzie Financial Corp owned approximately 0.05% of Shutterstock as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Amundi boosted its position in 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 purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of 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 worth $76,000 after buying an additional 1,565 shares during the period. Palouse Capital Management Inc. lifted its position in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after buying an additional 525 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Shutterstock in the 4th quarter valued at $134,000. Finally, Covestor Ltd increased its holdings in Shutterstock by 11.3% in 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 in the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have recently issued reports on the stock. Wall Street Zen began coverage on shares of Shutterstock in a research report on Wednesday, May 21st. They issued a "buy" rating on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC decreased 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Shutterstock presently has a consensus rating of "Hold" and an average target price of $43.67.
Check Out Our Latest Stock Report on Shutterstock
Shutterstock Trading Down 1.0%
Shutterstock stock traded down $0.18 during trading on Wednesday, reaching $18.31. 320,781 shares of the company were exchanged, compared to its average volume of 514,288. The stock's 50 day simple moving average is $17.20 and its two-hundred day simple moving average is $24.18. The company has a market capitalization of $645.50 million, a P/E ratio of 17.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. 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 analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same period last year, the business earned $1.13 earnings per share. The firm's revenue was up 13.2% compared to the same quarter last year. On average, equities 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 will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.21%. Shutterstock's dividend payout ratio is currently 121.10%.
About Shutterstock
(
Free Report)
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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