Public Sector Pension Investment Board Grows Position in Shutterstock, Inc. $SSTK

Key Points

• The Public Sector Pension Investment Board increased its stake in Shutterstock, Inc. by 27.0% in Q1, owning a total of 76,188 shares valued at approximately $1.4 million.
• Shutterstock recently reported an earnings miss for the quarter, with an EPS of $1.19, falling short of estimates by $0.46, despite a 21.3% year-over-year revenue increase to $266.99 million.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized dividend yield of 6.2%, with a payout ratio of 72.93%.

Public Sector Pension Investment Board lifted its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 27.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,188 shares of the business services provider's stock after acquiring an additional 16,209 shares during the quarter. Public Sector Pension Investment Board owned 0.22% of Shutterstock worth $1,419,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Performa Ltd US LLC bought a new stake in shares of Shutterstock during the first quarter worth $25,000. Versant Capital Management Inc lifted its position in shares of Shutterstock by 1,908.6% during the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after purchasing an additional 1,336 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Shutterstock during the first quarter worth $28,000. CWM LLC lifted its position in shares of Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock worth $34,000 after purchasing an additional 876 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its position in shares of Shutterstock by 33.8% during the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock worth $109,000 after purchasing an additional 1,473 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Stock Performance

NYSE SSTK traded down $0.29 during trading hours on Wednesday, reaching $20.60. The stock had a trading volume of 271,026 shares, compared to its average volume of 257,927. The stock has a fifty day moving average of $19.86 and a 200 day moving average of $19.49. The stock has a market cap of $730.68 million, a P/E ratio of 11.38 and a beta of 0.99. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $38.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The firm had revenue of $266.99 million during the quarter, compared to analysts' expectations of $248.27 million. During the same quarter in the prior year, the company earned $1.00 EPS. Shutterstock's quarterly revenue was up 21.3% on a year-over-year basis. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.4%. The ex-dividend date is Thursday, September 4th. Shutterstock's dividend payout ratio is currently 72.93%.

Analyst Ratings Changes

SSTK has been the subject of several research analyst reports. Needham & Company LLC decreased their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Wall Street Zen upgraded Shutterstock from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Shutterstock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

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.