Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 25,981.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,648 shares of the business services provider's stock after buying an additional 21,565 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Shutterstock worth $403,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after buying an additional 1,336 shares during the period. Amundi raised its stake in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after buying an additional 488 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after buying an additional 1,565 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Shutterstock during the 4th quarter worth approximately $134,000. Finally, Covestor Ltd raised its stake in shares of Shutterstock by 11.3% during the 4th quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after buying an additional 515 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SSTK has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Wall Street Zen upgraded Shutterstock to a "hold" rating in a research report on Saturday, June 14th. Finally, Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $43.67.

Shutterstock Stock Up 7.2%

Shares of SSTK opened at $19.10 on Friday. 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, Inc. has a one year low of $14.35 and a one year high of $46.10. The stock has a market capitalization of $673.17 million, a price-to-earnings ratio of 17.52 and a beta of 1.15. The stock has a 50 day moving average price of $17.63 and a 200 day moving average price of $23.17.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly 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). Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The firm had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same quarter in the previous year, the firm posted $1.13 earnings per share. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share 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 paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend was Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is presently 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.

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