LSV Asset Management Cuts Position in Shutterstock, Inc. (NYSE:SSTK)

LSV Asset Management lessened its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,681,185 shares of the business services provider's stock after selling 32,600 shares during the period. LSV Asset Management owned about 4.82% of Shutterstock worth $51,024,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. FMR LLC boosted its stake in Shutterstock by 397.5% during the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider's stock valued at $1,386,000 after purchasing an additional 31,315 shares during the period. Janus Henderson Group PLC boosted its position in shares of Shutterstock by 15.8% in the third quarter. Janus Henderson Group PLC now owns 65,617 shares of the business services provider's stock worth $2,321,000 after buying an additional 8,965 shares during the period. Stifel Financial Corp increased its stake in Shutterstock by 9.4% in the 3rd quarter. Stifel Financial Corp now owns 58,344 shares of the business services provider's stock valued at $2,064,000 after buying an additional 5,023 shares during the period. State Street Corp grew its position in Shutterstock by 1.4% in the third quarter. State Street Corp now owns 966,694 shares of the business services provider's stock worth $34,192,000 after acquiring an additional 13,039 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Shutterstock by 74.0% in the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider's stock worth $338,000 after buying an additional 4,061 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SSTK. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. StockNews.com began coverage on shares of Shutterstock in a research report on Tuesday, April 8th. They issued a "hold" rating on the stock. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC cut their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $45.33.

Shutterstock Trading Down 0.5 %

SSTK traded down $0.08 during trading on Wednesday, reaching $15.21. 62,526 shares of the company's stock were exchanged, compared to its average volume of 537,735. The stock has a market capitalization of $530.74 million, a PE ratio of 14.91 and a beta of 1.13. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The firm has a fifty day moving average price of $20.98 and a two-hundred day moving average price of $27.60.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock's quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. As a group, equities research analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.33 dividend. The ex-dividend date was Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 8.68%. Shutterstock's dividend payout ratio is currently 130.69%.

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.