Two Sigma Advisers LP Increases Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Two Sigma Advisers LP boosted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 111.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,500 shares of the business services provider's stock after acquiring an additional 18,200 shares during the quarter. Two Sigma Advisers LP owned 0.10% of Shutterstock worth $1,047,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SSTK. Janney Montgomery Scott LLC raised its holdings in Shutterstock by 14.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider's stock worth $919,000 after buying an additional 3,734 shares during the last quarter. KBC Group NV lifted its holdings in shares of Shutterstock by 1.5% in the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider's stock worth $2,005,000 after buying an additional 999 shares in the last quarter. Palouse Capital Management Inc. lifted its holdings in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after buying an additional 525 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Shutterstock by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 149,039 shares of the business services provider's stock worth $4,523,000 after buying an additional 5,204 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Shutterstock by 3.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider's stock valued at $16,617,000 after purchasing an additional 18,133 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Shutterstock Stock Performance

SSTK stock traded up $0.23 during trading on Friday, hitting $18.49. 424,896 shares of the company traded hands, compared to its average volume of 516,704. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10. The stock's 50-day simple moving average is $17.21 and its 200 day simple moving average is $24.31. The company has a market cap of $651.85 million, a PE ratio of 18.13 and a beta of 1.10.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data 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 20.39% and a net margin of 4.03%. The company had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same quarter in the previous year, the business posted $1.13 EPS. The business's quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders 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 121.10%.

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.