Bank of New York Mellon Corp Has $11.57 Million Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Bank of New York Mellon Corp reduced its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 21.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 621,260 shares of the business services provider's stock after selling 168,892 shares during the period. Bank of New York Mellon Corp owned 1.78% of Shutterstock worth $11,574,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock valued at $30,904,000 after purchasing an additional 189,015 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in Shutterstock by 28.1% during the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock valued at $18,255,000 after acquiring an additional 132,055 shares during the period. Boston Trust Walden Corp raised its stake in Shutterstock by 1.2% during the 1st quarter. Boston Trust Walden Corp now owns 557,583 shares of the business services provider's stock valued at $10,388,000 after purchasing an additional 6,866 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Shutterstock by 13.8% during the fourth 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 during the period. Finally, Northern Trust Corp grew its holdings in shares of Shutterstock by 2.1% during the 4th quarter. Northern Trust Corp now owns 384,879 shares of the business services provider's stock worth $11,681,000 after purchasing an additional 7,945 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SSTK. 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. Wall Street Zen raised Shutterstock to a "hold" rating in a report on Saturday, June 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $43.67.

Shutterstock Price Performance

Shares of SSTK stock traded up $0.20 during trading hours on Monday, reaching $18.37. The company had a trading volume of 209,237 shares, compared to its average volume of 495,373. The stock has a fifty day moving average of $18.72 and a 200-day moving average of $21.28. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $647.54 million, a price-to-earnings ratio of 6.91 and a beta of 1.15. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $46.10.

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 the consensus estimate of $1.26 by ($0.23). Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. The firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same period in the prior year, the firm earned $1.13 earnings per share. The business's revenue was up 13.2% compared to the same quarter last year. On average, equities analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.19%. The ex-dividend date was Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is presently 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.