XTX Topco Ltd Acquires Shares of 17,968 Shutterstock, Inc. (NYSE:SSTK)

Key Points

• XTX Topco Ltd has acquired a new position in Shutterstock, Inc., purchasing 17,968 shares valued at approximately $335,000, representing about 0.05% of the company's stock.
• Shutterstock reported a loss in earnings per share of $1.19 for the quarter, falling short of the consensus estimate of $1.65, while revenue increased by 21.3% year-over-year to $266.99 million.
• The company declared a quarterly dividend of $0.33, expected to be paid on September 18th, which marks an annualized yield of 6.6% with a payout ratio of 72.93%.

XTX Topco Ltd bought a new position in Shutterstock, Inc. (NYSE:SSTK - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 17,968 shares of the business services provider's stock, valued at approximately $335,000. XTX Topco Ltd owned approximately 0.05% of Shutterstock as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SSTK. Dimensional Fund Advisors LP grew its holdings in Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock valued at $30,904,000 after buying an additional 189,015 shares in the last quarter. Invenomic Capital Management LP lifted its position in Shutterstock by 28.1% in the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after buying an additional 132,055 shares during the last quarter. Millennium Management LLC lifted its position in 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 purchasing an additional 130,831 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Shutterstock by 21.7% in the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider's stock valued at $12,414,000 after purchasing an additional 118,828 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in Shutterstock by 1,702.3% in the fourth quarter. Two Sigma Investments LP now owns 125,441 shares of the business services provider's stock valued at $3,807,000 after purchasing an additional 118,481 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a report on Monday, May 5th. Wall Street Zen raised Shutterstock from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Needham & Company LLC reduced their price target on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.67.

Shutterstock Stock Down 2.7%

NYSE SSTK traded down $0.58 on Thursday, reaching $21.13. 73,622 shares of the stock traded hands, compared to its average volume of 463,569. The company has a market cap of $749.57 million, a price-to-earnings ratio of 11.70 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.49 and a current ratio of 0.49. Shutterstock, Inc. has a 12 month low of $14.35 and a 12 month high of $38.80. The company has a fifty day moving average price of $19.26 and a 200-day moving average price of $20.08.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its 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). The business had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, research analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock's dividend payout ratio (DPR) is currently 72.93%.

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.