Bank of New York Mellon Corp Sells 168,892 Shares of Shutterstock, Inc. (NYSE:SSTK)

Bank of New York Mellon Corp trimmed its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 21.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 621,260 shares of the business services provider's stock after selling 168,892 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.78% of Shutterstock worth $11,574,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Shutterstock by 2.2% during the first quarter. Principal Financial Group Inc. now owns 152,272 shares of the business services provider's stock valued at $2,837,000 after purchasing an additional 3,233 shares during the last quarter. KBC Group NV lifted its holdings in shares of Shutterstock by 1.4% during the first quarter. KBC Group NV now owns 67,003 shares of the business services provider's stock valued at $1,248,000 after purchasing an additional 934 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Shutterstock by 1.2% during the first 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. Janney Montgomery Scott LLC lifted its holdings in shares of Shutterstock by 159.8% during the first quarter. Janney Montgomery Scott LLC now owns 78,652 shares of the business services provider's stock valued at $1,465,000 after purchasing an additional 48,382 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its holdings in shares of Shutterstock by 33.8% during the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after purchasing an additional 1,473 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Down 4.1%

NYSE SSTK traded down $0.86 during mid-day trading on Thursday, reaching $19.97. The stock had a trading volume of 303,787 shares, compared to its average volume of 270,632. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10. The stock has a market cap of $704.08 million, a PE ratio of 18.32 and a beta of 1.15. The company has a fifty day moving average price of $18.74 and a 200 day moving average price of $21.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick 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 analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The company had revenue of $242.62 million during the quarter, compared to the consensus estimate of $249.44 million. During the same period last year, the firm posted $1.13 EPS. The company's revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is presently 121.10%.

Wall Street Analysts Forecast Growth

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

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.