SG Americas Securities LLC Invests $398,000 in Shutterstock, Inc. (NYSE:SSTK)

SG Americas Securities LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,349 shares of the business services provider's stock, valued at approximately $398,000. SG Americas Securities LLC owned approximately 0.06% of Shutterstock at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SSTK. Amundi grew its position in Shutterstock by 26.2% in the 4th 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. Covestor Ltd grew its position 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 purchasing an additional 515 shares in the last quarter. Snowden Capital Advisors LLC grew its position in Shutterstock by 5.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider's stock worth $325,000 after purchasing an additional 548 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Shutterstock by 11.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock worth $201,000 after purchasing an additional 682 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position 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 worth $474,000 after purchasing an additional 1,026 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SSTK has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Wall Street Zen raised shares of Shutterstock to a "hold" rating in a research report on Saturday, June 14th. 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 report on Monday, June 2nd. Finally, Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Shutterstock currently has a consensus rating of "Hold" and an average target price of $43.67.

Shutterstock Stock Up 3.0%

SSTK opened at $18.89 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The stock has a market cap of $665.84 million, a price-to-earnings ratio of 17.33 and a beta of 1.15. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The company's 50-day moving average price is $17.82 and its two-hundred day moving average price is $22.81.

Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The company had revenue of $242.62 million during the quarter, compared to analysts' expectations of $249.44 million. Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. The firm's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. As a group, equities analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend was Thursday, June 5th. Shutterstock's payout ratio 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.

Want to see what other hedge funds are holding SSTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shutterstock, Inc. (NYSE:SSTK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.