Mackenzie Financial Corp Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

Mackenzie Financial Corp bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the fourth quarter, according to the company in its most recent 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 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Shutterstock by 13.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider's stock worth $1,753,000 after purchasing an additional 7,023 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Shutterstock by 9.1% during the 4th quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider's stock worth $481,000 after buying an additional 1,321 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Shutterstock by 83.9% during the 4th quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider's stock worth $2,343,000 after buying an additional 35,235 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Shutterstock by 111.7% during the 4th quarter. Two Sigma Advisers LP now owns 34,500 shares of the business services provider's stock worth $1,047,000 after buying an additional 18,200 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Shutterstock by 1,702.3% during the 4th quarter. Two Sigma Investments LP now owns 125,441 shares of the business services provider's stock worth $3,807,000 after buying an additional 118,481 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SSTK shares. Wall Street Zen started coverage on shares of Shutterstock in a research note on Wednesday, May 21st. They set a "buy" rating for the company. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Needham & Company LLC reduced their price objective on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $43.67.

Shutterstock Stock Performance

NYSE:SSTK traded down $0.19 during mid-day trading on Friday, hitting $17.67. The stock had a trading volume of 282,102 shares, compared to its average volume of 514,408. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The stock has a market cap of $622.94 million, a price-to-earnings ratio of 17.32 and a beta of 1.15. The company's 50 day simple moving average is $17.17 and its 200 day simple moving average is $23.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

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 the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same quarter last year, the business posted $1.13 earnings per share. The company's revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.47%. Shutterstock's dividend payout ratio (DPR) is currently 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.