Man Group plc Boosts Holdings in Shutterstock, Inc. (NYSE:SSTK)

Man Group plc grew its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 220.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,980 shares of the business services provider's stock after buying an additional 41,280 shares during the quarter. Man Group plc owned 0.17% of Shutterstock worth $1,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SSTK. Janney Montgomery Scott LLC grew its holdings in Shutterstock by 14.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider's stock valued at $919,000 after purchasing an additional 3,734 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Shutterstock by 15.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider's stock valued at $407,000 after purchasing an additional 1,794 shares during the last quarter. KBC Group NV grew its holdings in Shutterstock by 1.5% during the 4th quarter. KBC Group NV now owns 66,069 shares of the business services provider's stock valued at $2,005,000 after purchasing an additional 999 shares during the last quarter. R Squared Ltd bought a new position in Shutterstock during the 4th quarter valued at about $108,000. Finally, Palouse Capital Management Inc. grew its holdings in 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 purchasing an additional 525 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Trading Down 1.2%

SSTK stock traded down $0.22 during mid-day trading on Thursday, reaching $17.85. The company had a trading volume of 28,468 shares, compared to its average volume of 522,398. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $629.11 million, a PE ratio of 17.49 and a beta of 1.10. The firm has a 50 day moving average of $17.25 and a 200 day moving average of $24.59. Shutterstock, Inc. has a 12 month low of $14.35 and a 12 month high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last released 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 4.03% and a return on equity of 20.39%. The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. During the same quarter in the prior year, the business posted $1.13 earnings per share. Shutterstock's revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid 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 7.40%. Shutterstock's dividend payout ratio is presently 121.10%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, March 7th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Wall Street Zen assumed coverage on shares of Shutterstock in a research note on Wednesday, May 21st. They issued a "buy" rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Shutterstock has an average rating of "Hold" and an average price target of $45.33.

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.