Universal Beteiligungs und Servicegesellschaft mbH Invests $2.72 Million in Shutterstock, Inc. (NYSE:SSTK)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 89,486 shares of the business services provider's stock, valued at approximately $2,716,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.26% of Shutterstock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi increased its stake in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,565 shares in the last quarter. Palouse Capital Management Inc. increased its stake in shares of Shutterstock by 13.7% during the fourth 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. KLP Kapitalforvaltning AS purchased a new stake in shares of Shutterstock during the fourth quarter worth about $134,000. Finally, Covestor Ltd increased its stake in shares of Shutterstock by 11.3% during the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after purchasing an additional 515 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

Shutterstock Trading Down 1.1%

NYSE:SSTK traded down $0.19 on Friday, hitting $17.67. The stock had a trading volume of 282,102 shares, compared to its average volume of 514,408. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a market cap of $622.94 million, a price-to-earnings ratio of 17.32 and a beta of 1.15. The company has a fifty day moving average price of $17.17 and a two-hundred day moving average price of $23.98. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). The firm had revenue of $242.62 million during 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%. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 earnings per share. Equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 7.47%. Shutterstock's payout ratio is 121.10%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSTK. Wall Street Zen initiated coverage on shares of Shutterstock in a research note on Wednesday, May 21st. They set a "buy" rating for the company. Needham & Company LLC dropped their price objective on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Monday. Truist Financial cut shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target 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.