Raymond James Financial Inc. bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 46,143 shares of the business services provider's stock, valued at approximately $1,400,000. Raymond James Financial Inc. owned approximately 0.13% of Shutterstock as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Shutterstock during the 4th quarter worth $108,000. Palouse Capital Management Inc. increased its holdings in Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after acquiring an additional 525 shares in the last quarter. National Bank of Canada FI raised its position in Shutterstock by 74.0% during the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider's stock worth $338,000 after acquiring an additional 4,061 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Shutterstock in the third quarter valued at about $388,000. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Shutterstock by 15.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider's stock valued at $407,000 after purchasing an additional 1,794 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.
Shutterstock Trading Down 2.2 %
SSTK traded down $0.35 during trading on Monday, hitting $15.42. The company's stock had a trading volume of 1,132,016 shares, compared to its average volume of 532,946. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The firm's 50 day moving average price is $23.24 and its 200-day moving average price is $28.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market cap of $537.89 million, a PE ratio of 15.11 and a beta of 1.13.
Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. On average, analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.
Shutterstock Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This is a boost from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 8.56%. Shutterstock's dividend payout ratio (DPR) is currently 130.69%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on SSTK shares. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC decreased their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, StockNews.com assumed coverage on shares of Shutterstock in a research note on Monday, March 31st. They issued a "hold" rating for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Shutterstock currently has an average rating of "Hold" and a consensus target price of $45.33.
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About Shutterstock
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Free Report)
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.
Further Reading
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