Shutterstock, Inc. (NYSE:SSTK) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 4,728.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,312 shares of the business services provider's stock after purchasing an additional 18,912 shares during the period. International Assets Investment Management LLC owned approximately 0.05% of Shutterstock worth $932,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. LSV Asset Management increased its position in shares of Shutterstock by 3,416.1% in the third quarter. LSV Asset Management now owns 936,937 shares of the business services provider's stock valued at $35,650,000 after acquiring an additional 910,290 shares during the period. Trigran Investments Inc. increased its position in shares of Shutterstock by 171.7% during the third quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider's stock valued at $40,008,000 after buying an additional 664,522 shares during the period. Copeland Capital Management LLC increased its position in shares of Shutterstock by 37.3% during the fourth quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider's stock valued at $67,316,000 after buying an additional 378,450 shares during the period. Wellington Management Group LLP increased its position in shares of Shutterstock by 32.9% during the third quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider's stock valued at $35,940,000 after buying an additional 234,030 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of Shutterstock during the third quarter valued at about $7,046,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Down 0.2 %

Shares of NYSE SSTK traded down $0.08 during midday trading on Friday, hitting $41.94. The stock had a trading volume of 276,295 shares, compared to its average volume of 489,354. The business's 50 day moving average is $43.68 and its 200-day moving average is $45.41. The company has a market cap of $1.50 billion, a P/E ratio of 16.26 and a beta of 1.13. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $58.42.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. The company had revenue of $217.22 million for the quarter, compared to the consensus estimate of $224.04 million. Shutterstock had a net margin of 10.71% and a return on equity of 21.14%. As a group, analysts expect that Shutterstock, Inc. will post 3.38 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. Shutterstock's dividend payout ratio (DPR) is 46.51%.

Insider Activity at Shutterstock

In related news, insider John Caine sold 5,439 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $42.91, for a total transaction of $233,387.49. Following the transaction, the insider now owns 1,974 shares in the company, valued at $84,704.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 32.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an "equal weight" rating and a $55.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $65.00 price objective on shares of Shutterstock in a report on Tuesday. StockNews.com cut shares of Shutterstock from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 29th. Finally, Truist Financial cut their price objective on shares of Shutterstock from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $62.50.

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.