27,600 Shares in Shutterstock, Inc. $SSTK Bought by Strs Ohio

Key Points

• Strs Ohio has invested $514,000 in Shutterstock, acquiring 27,600 shares, which amounts to approximately 0.08% ownership in the company.
• Shutterstock reported a miss in Q2 earnings with a $1.19 EPS, falling short of analyst estimates, although revenue increased by 21.3% year-over-year.
• The company announced a quarterly dividend of $0.33 per share, providing an annualized yield of 6.1%, and has a current payout ratio of 72.93%.

Strs Ohio acquired a new position in Shutterstock, Inc. (NYSE:SSTK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 27,600 shares of the business services provider's stock, valued at approximately $514,000. Strs Ohio owned 0.08% of Shutterstock as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Performa Ltd US LLC purchased a new position in shares of Shutterstock in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc lifted its stake in shares of Shutterstock by 1,908.6% in the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,336 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Shutterstock in the 1st quarter valued at approximately $28,000. CWM LLC lifted its stake in shares of Shutterstock by 93.8% in the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after purchasing an additional 876 shares during the period. Finally, Palouse Capital Management Inc. lifted its stake in shares of Shutterstock by 33.8% in the 1st 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 period. Hedge funds and other institutional investors own 82.79% of the company's stock.

Shutterstock Stock Down 2.6%

Shares of SSTK stock traded down $0.57 during mid-day trading on Monday, hitting $21.14. The company's stock had a trading volume of 176,216 shares, compared to its average volume of 208,348. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $38.80. The business has a 50-day moving average price of $20.48 and a 200 day moving average price of $18.91. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market cap of $749.80 million, a price-to-earnings ratio of 11.68 and a beta of 1.05.

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

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $0.33 dividend. The ex-dividend date was Thursday, September 4th. This represents a $1.32 annualized dividend and a dividend yield of 6.2%. Shutterstock's payout ratio is currently 72.93%.

Analysts Set New Price Targets

A number of research firms have recently commented on SSTK. Wall Street Zen cut Shutterstock from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Needham & Company LLC reduced their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Shutterstock currently has an average rating of "Hold" and an average target price of $43.67.

Shutterstock 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.