Victory Capital Management Inc. Buys 13,767 Shares of Shutterstock, Inc. (NYSE:SSTK)

Victory Capital Management Inc. lifted its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 33.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,137 shares of the business services provider's stock after purchasing an additional 13,767 shares during the quarter. Victory Capital Management Inc. owned 0.16% of Shutterstock worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake 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 valued at $201,000 after buying an additional 682 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Shutterstock by 159.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 78,652 shares of the business services provider's stock worth $1,465,000 after purchasing an additional 48,382 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Shutterstock by 50.6% during the 4th quarter. Franklin Resources Inc. now owns 23,209 shares of the business services provider's stock worth $704,000 after purchasing an additional 7,796 shares during the last quarter. Millennium Management LLC increased its stake in shares of Shutterstock by 77.6% during the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock worth $9,087,000 after purchasing an additional 130,831 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Shutterstock by 6.2% during the 4th quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock worth $1,791,000 after purchasing an additional 3,439 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Performance

NYSE SSTK traded down $0.47 during trading on Friday, reaching $18.69. The company's stock had a trading volume of 279,029 shares, compared to its average volume of 268,593. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $662.93 million, a price-to-earnings ratio of 10.33 and a beta of 0.99. Shutterstock, Inc. has a 12 month low of $14.35 and a 12 month high of $40.49. The firm has a 50 day moving average price of $18.88 and a 200 day moving average price of $20.71.

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

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock's dividend payout ratio is 121.10%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Needham & Company LLC decreased their price target on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of 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 stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.