Squarepoint Ops LLC Buys 35,235 Shares of Shutterstock, Inc. (NYSE:SSTK)

Squarepoint Ops LLC raised its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,212 shares of the business services provider's stock after purchasing an additional 35,235 shares during the period. Squarepoint Ops LLC owned 0.22% of Shutterstock worth $2,343,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SSTK. Amundi boosted its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after acquiring an additional 488 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Shutterstock by 167.6% in 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 purchasing an additional 1,565 shares during the period. R Squared Ltd acquired a new position in shares of Shutterstock during the 4th quarter worth approximately $108,000. Palouse Capital Management Inc. grew its position in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after purchasing an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Shutterstock during the fourth quarter worth approximately $134,000. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Stock Up 1.3%

Shutterstock stock traded up $0.23 during midday trading on Friday, reaching $18.49. The stock had a trading volume of 424,896 shares, compared to its average volume of 516,704. The company has a fifty day moving average price of $17.21 and a two-hundred day moving average price of $24.31. The company has a market capitalization of $651.85 million, a P/E ratio of 18.13 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. 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 quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) 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 analyst estimates of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock's revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. As a group, equities analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.14%. Shutterstock's dividend payout ratio (DPR) is currently 121.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SSTK shares. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wall Street Zen assumed coverage on Shutterstock in a research note on Wednesday, May 21st. They issued a "buy" rating on the stock. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.33.

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.