Two Sigma Investments LP increased its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 1,702.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 125,441 shares of the business services provider's stock after purchasing an additional 118,481 shares during the period. Two Sigma Investments LP owned 0.36% of Shutterstock worth $3,807,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi lifted its holdings in shares of Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of 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 last quarter. R Squared Ltd purchased a new stake in Shutterstock during the 4th quarter valued at approximately $108,000. Palouse Capital Management Inc. raised its stake in Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after acquiring an additional 525 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the 4th quarter valued at approximately $134,000. 82.79% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SSTK has been the subject of several analyst reports. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. 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 note on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Wall Street Zen initiated coverage on Shutterstock in a research note on Wednesday, May 21st. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Shutterstock has an average rating of "Hold" and a consensus target price of $43.67.
Check Out Our Latest Analysis on SSTK
Shutterstock Stock Performance
Shares of SSTK stock traded down $0.43 during trading hours on Monday, reaching $18.02. 232,769 shares of the company's stock were exchanged, compared to its average volume of 515,567. The company has a market cap of $635.28 million, a P/E ratio of 17.67 and a beta of 1.10. The company's 50 day moving average is $17.20 and its two-hundred day moving average is $24.22. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10. 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 (NYSE:SSTK - Get Free Report) last issued its 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 business had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business's quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $1.13 earnings per share. Equities research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.
Shutterstock Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is 121.10%.
About Shutterstock
(
Free Report)
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.
Further Reading
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