SG Americas Securities LLC Buys New Position in Shutterstock, Inc. (NYSE:SSTK)

SG Americas Securities LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SSTK. Dimensional Fund Advisors LP boosted its position in shares of Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock worth $30,904,000 after buying an additional 189,015 shares during the period. Royce & Associates LP lifted its stake in Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider's stock worth $25,240,000 after acquiring an additional 127,399 shares in the last quarter. Invenomic Capital Management LP boosted its position in Shutterstock by 28.1% during the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after acquiring an additional 132,055 shares during the period. Ameriprise Financial Inc. grew its stake in Shutterstock by 13.8% during the 4th quarter. Ameriprise Financial Inc. now owns 433,950 shares of the business services provider's stock valued at $13,170,000 after acquiring an additional 52,682 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Shutterstock by 2.1% in the 4th quarter. Northern Trust Corp now owns 384,879 shares of the business services provider's stock valued at $11,681,000 after purchasing an additional 7,945 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSTK has been the topic of several research reports. Wall Street Zen upgraded shares of Shutterstock to a "hold" rating in a research note on Saturday, June 14th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Finally, Needham & Company LLC cut their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.67.

Shutterstock Stock Up 1.1%

Shares of NYSE SSTK traded up $0.21 during trading hours on Friday, hitting $18.81. The stock had a trading volume of 725,409 shares, compared to its average volume of 505,813. The firm's 50-day moving average price is $18.03 and its two-hundred day moving average price is $22.52. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10. The company has a market capitalization of $662.88 million, a P/E ratio of 17.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.23). The business had revenue of $242.62 million during the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The business's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.02%. Shutterstock's dividend payout ratio (DPR) is currently 121.10%.

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.