GAMMA Investing LLC Boosts Stock Position in Shutterstock, Inc. (NYSE:SSTK)

GAMMA Investing LLC boosted its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 25,981.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,648 shares of the business services provider's stock after purchasing 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 hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in 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 valued at $26,000 after buying an additional 1,336 shares during the period. Amundi raised its holdings in Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after buying an additional 488 shares during the period. PNC Financial Services Group Inc. raised its holdings in 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 valued at $76,000 after buying an additional 1,565 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the 4th quarter valued at $134,000. Finally, Covestor Ltd raised its holdings 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 buying an additional 515 shares during the period. 82.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SSTK. Needham & Company LLC reduced their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Wall Street Zen upgraded Shutterstock to a "hold" rating in a research note on Saturday, June 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $43.67.

Shutterstock Stock Down 0.2%

Shares of Shutterstock stock traded down $0.04 during trading on Monday, hitting $18.32. 326,906 shares of the stock traded hands, compared to its average volume of 508,198. The firm has a market cap of $645.82 million, a P/E ratio of 16.81 and a beta of 1.15. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.22. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $46.10. The stock's fifty day simple moving average is $17.75 and its 200 day simple moving average is $22.84.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. Shutterstock's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. On average, equities analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date was Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is 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.