Leuthold Group LLC Takes Position in Shutterstock, Inc. (NYSE:SSTK)

Leuthold Group LLC acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 70,287 shares of the business services provider's stock, valued at approximately $3,393,000. Leuthold Group LLC owned about 0.20% of Shutterstock as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. LSV Asset Management raised its position in Shutterstock by 46.3% in the 4th quarter. LSV Asset Management now owns 1,370,843 shares of the business services provider's stock worth $66,184,000 after purchasing an additional 433,906 shares during the period. SRS Capital Advisors Inc. raised its position in Shutterstock by 433.3% in the 4th quarter. SRS Capital Advisors Inc. now owns 592 shares of the business services provider's stock worth $29,000 after purchasing an additional 481 shares during the period. First Horizon Advisors Inc. raised its position in Shutterstock by 58.5% in the 4th quarter. First Horizon Advisors Inc. now owns 894 shares of the business services provider's stock worth $43,000 after purchasing an additional 330 shares during the period. Russell Investments Group Ltd. raised its position in Shutterstock by 10.4% in the 4th quarter. Russell Investments Group Ltd. now owns 160,367 shares of the business services provider's stock worth $7,743,000 after purchasing an additional 15,153 shares during the period. Finally, Linden Thomas Advisory Services LLC purchased a new position in Shutterstock in the 4th quarter worth $250,000. 82.79% of the stock is owned by institutional investors.

Insider Activity at Shutterstock

In related news, insider John Caine sold 1,974 shares of the business's stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20. Following the sale, the insider now owns 7,413 shares of the company's stock, valued at $320,982.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.30% of the stock is owned by corporate insiders.

Shutterstock Stock Performance

Shares of NYSE SSTK traded down $0.64 during midday trading on Tuesday, hitting $39.30. 344,361 shares of the company traded hands, compared to its average volume of 497,072. Shutterstock, Inc. has a 12-month low of $33.80 and a 12-month high of $58.42. The stock has a 50-day moving average price of $45.19 and a 200 day moving average price of $45.16. The firm has a market cap of $1.41 billion, a P/E ratio of 15.60 and a beta of 1.13.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.13. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. The company had revenue of $217.22 million for the quarter, compared to analysts' expectations of $224.04 million. As a group, equities analysts expect that Shutterstock, Inc. will post 3.13 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Thursday, May 30th. Shutterstock's dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SSTK shares. Truist Financial decreased their target price on shares of Shutterstock from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday. Needham & Company LLC restated a "buy" rating and issued a $60.00 price objective on shares of Shutterstock in a research report on Thursday, May 2nd. StockNews.com cut shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 29th. Finally, Morgan Stanley initiated coverage on shares of Shutterstock in a research report on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.25.

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.