Villanova Investment Management Co LLC cut its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 64.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,210 shares of the business services provider's stock after selling 48,567 shares during the quarter. Villanova Investment Management Co LLC owned approximately 0.07% of Shutterstock worth $488,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SSTK. Performa Ltd US LLC purchased a new position in Shutterstock in the first quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock valued at $26,000 after acquiring an additional 1,336 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Shutterstock in the first quarter valued at about $28,000. CWM LLC boosted its stake in Shutterstock by 93.8% in the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after acquiring an additional 876 shares during the last quarter. Finally, Palouse Capital Management Inc. boosted its stake in Shutterstock by 33.8% in the first quarter. Palouse Capital Management Inc. now owns 5,830 shares of the business services provider's stock valued at $109,000 after acquiring an additional 1,473 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
Shutterstock Stock Performance
Shares of SSTK stock traded down $0.02 during trading on Tuesday, reaching $22.00. 71,279 shares of the company's stock traded hands, compared to its average volume of 430,712. The company has a market capitalization of $780.27 million, a P/E ratio of 12.14 and a beta of 1.05. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20. The firm's 50-day moving average is $20.27 and its 200 day moving average is $18.87. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $38.80.
Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.65 by ($0.46). The business had revenue of $266.99 million for the quarter, compared to analysts' expectations of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 earnings per share. Equities research analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current year.
Shutterstock Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock's dividend payout ratio is 72.93%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Needham & Company LLC dropped their target price on shares of Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Wall Street Zen cut shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Shutterstock has a consensus rating of "Hold" and a consensus price target of $43.67.
Read Our Latest Stock Report on SSTK
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.
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