Voloridge Investment Management LLC Has $12.95 Million Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Voloridge Investment Management LLC lowered its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 426,524 shares of the business services provider's stock after selling 18,395 shares during the quarter. Voloridge Investment Management LLC owned 1.22% of Shutterstock worth $12,945,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SSTK. Arrowstreet Capital Limited Partnership acquired a new stake in Shutterstock during the fourth quarter worth $9,903,000. Dimensional Fund Advisors LP increased its stake in Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock valued at $30,904,000 after acquiring an additional 189,015 shares during the period. Invenomic Capital Management LP raised its position in Shutterstock by 28.1% in the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after purchasing an additional 132,055 shares in the last quarter. Millennium Management LLC lifted its stake in Shutterstock by 77.6% during the fourth quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock worth $9,087,000 after purchasing an additional 130,831 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider's stock valued at $25,240,000 after purchasing an additional 127,399 shares during the period. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Trading Down 1.7%

NYSE SSTK traded down $0.31 on Thursday, reaching $17.76. The company had a trading volume of 34,837 shares, compared to its average volume of 522,463. The stock's 50 day moving average is $17.25 and its 200-day moving average is $24.59. The stock has a market cap of $625.93 million, a price-to-earnings ratio of 17.41 and a beta of 1.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week 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 (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The business 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 firm's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 earnings per share. Equities analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current 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. This represents a $1.32 annualized dividend and a yield of 7.43%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio is currently 121.10%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Needham & Company LLC lowered their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research note on Monday, May 5th. Wall Street Zen started coverage on shares of Shutterstock in a research note on Wednesday, May 21st. They set a "buy" rating for the company. Finally, Truist Financial lowered shares of 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 assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $45.33.

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.