Nuveen Asset Management LLC Has $2.59 Million Position in Shutterstock, Inc. (NYSE:SSTK)

Nuveen Asset Management LLC reduced its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 46.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 85,161 shares of the business services provider's stock after selling 73,980 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.24% of Shutterstock worth $2,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSTK. Amundi grew its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. Covestor Ltd boosted its stake in Shutterstock by 11.3% during the 4th quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock valued at $155,000 after purchasing an additional 515 shares during the period. Palouse Capital Management Inc. grew its holdings in Shutterstock by 13.7% in 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 during the last quarter. MetLife Investment Management LLC grew its holdings in Shutterstock by 7.0% in the 4th quarter. MetLife Investment Management LLC now owns 15,631 shares of the business services provider's stock valued at $474,000 after buying an additional 1,026 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Shutterstock by 6.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 24,196 shares of the business services provider's stock worth $734,000 after buying an additional 1,386 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Stock Performance

Shares of SSTK traded down $0.19 on Friday, reaching $17.67. 282,102 shares of the stock traded hands, compared to its average volume of 514,408. The stock's 50-day moving average price is $17.17 and its 200-day moving average price is $23.98. 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 firm has a market cap of $622.94 million, a price-to-earnings ratio of 17.32 and a beta of 1.15. 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 EPS for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.13 earnings per share. Equities analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.47%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's payout ratio is 121.10%.

Wall Street Analyst Weigh In

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

Shutterstock 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.