Virtu Financial LLC Acquires New Holdings in Shutterstock, Inc. $SSTK

Key Points

• Virtu Financial LLC acquired a new stake in Shutterstock, Inc. by purchasing 28,830 shares valued at approximately $537,000, representing about 0.08% of the company's shares.
• Shutterstock's recent earnings report revealed an EPS of $1.19 for the quarter, missing analysts' expectations of $1.65 despite a 21.3% increase in quarterly revenue year-over-year.
• The company has announced a quarterly dividend of $0.33, translating to an annualized dividend of $1.32 and a dividend yield of 6.1%.

Virtu Financial LLC purchased a new stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,830 shares of the business services provider's stock, valued at approximately $537,000. Virtu Financial LLC owned about 0.08% of Shutterstock at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of Shutterstock by 11.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock valued at $201,000 after purchasing an additional 682 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Shutterstock by 159.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 78,652 shares of the business services provider's stock worth $1,465,000 after buying an additional 48,382 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Shutterstock by 50.6% in the 4th quarter. Franklin Resources Inc. now owns 23,209 shares of the business services provider's stock worth $704,000 after buying an additional 7,796 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Shutterstock by 77.6% in the fourth quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock valued at $9,087,000 after acquiring an additional 130,831 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Shutterstock by 33.3% during the first quarter. Victory Capital Management Inc. now owns 55,137 shares of the business services provider's stock valued at $1,027,000 after acquiring an additional 13,767 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Performance

Shares of SSTK stock traded up $0.32 on Monday, hitting $21.76. 71,200 shares of the stock were exchanged, compared to its average volume of 460,457. The firm's 50 day moving average is $19.40 and its two-hundred day moving average is $19.85. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $38.80. The firm has a market capitalization of $771.86 million, a PE ratio of 12.04 and a beta of 0.99. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20.

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 (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The business had revenue of $266.99 million during the quarter, compared to the consensus estimate of $248.27 million. During the same period last year, the firm earned $1.00 EPS. The business's revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th 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 6.1%. The ex-dividend date is Thursday, September 4th. Shutterstock's payout ratio is presently 72.93%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC cut their price objective on Shutterstock from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. Wall Street Zen raised shares of Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.67.

Shutterstock Company 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.