Marshall Wace LLP Sells 20,688 Shares of Shutterstock, Inc. (NYSE:SSTK)

Marshall Wace LLP trimmed its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 33.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,470 shares of the business services provider's stock after selling 20,688 shares during the quarter. Marshall Wace LLP owned about 0.12% of Shutterstock worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SSTK. PNC Financial Services Group Inc. grew its holdings in Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after buying an additional 1,565 shares in the last quarter. Barclays PLC increased its stake in shares of Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock valued at $1,788,000 after acquiring an additional 35,632 shares during the period. Range Financial Group LLC bought a new stake in shares of Shutterstock in the 4th quarter worth $691,000. Franklin Resources Inc. lifted its holdings in Shutterstock by 50.6% in the 4th quarter. Franklin Resources Inc. now owns 23,209 shares of the business services provider's stock valued at $704,000 after acquiring an additional 7,796 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Shutterstock by 6.2% during the fourth quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock worth $1,791,000 after buying an additional 3,439 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Stock Up 1.3 %

Shares of NYSE:SSTK traded up $0.22 during trading on Monday, reaching $16.98. 26,674 shares of the company traded hands, compared to its average volume of 536,141. 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 1-year low of $14.35 and a 1-year high of $46.10. The firm has a fifty day simple moving average of $17.94 and a 200 day simple moving average of $26.15. The firm has a market cap of $592.50 million, a P/E ratio of 16.65 and a beta of 1.13.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The firm had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business earned $1.13 earnings per share. Analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio is presently 130.69%.

Wall Street Analysts Forecast Growth

SSTK has been the subject of several research reports. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research note on Monday. StockNews.com started coverage on shares of Shutterstock in a report on Tuesday, April 8th. They issued a "hold" rating for the company. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC decreased their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Shutterstock has a consensus rating of "Hold" and a consensus target price 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.