Shutterstock (NYSE:SSTK) Given "Market Perform" Rating at JMP Securities

JMP Securities reiterated their market perform rating on shares of Shutterstock (NYSE:SSTK - Free Report) in a report published on Monday morning,Benzinga reports.

Several other analysts have also recently weighed in on the company. StockNews.com initiated coverage on Shutterstock in a report on Tuesday, April 8th. They issued a "hold" rating on the stock. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $45.33.

Shutterstock Trading Down 1.2 %

NYSE SSTK traded down $0.21 during mid-day trading on Monday, reaching $17.33. 247,905 shares of the stock were exchanged, compared to its average volume of 535,506. 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 50 day simple moving average of $17.66 and a 200-day simple moving average of $25.94. Shutterstock has a one year low of $14.35 and a one year high of $46.10. The stock has a market cap of $610.99 million, a P/E ratio of 16.99 and a beta of 1.10.

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

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.62%. The ex-dividend date is Thursday, June 5th. Shutterstock's dividend payout ratio is 121.10%.

Hedge Funds Weigh In On Shutterstock

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after purchasing an additional 1,336 shares in the last quarter. CWM LLC boosted its holdings in Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock worth $34,000 after buying an additional 876 shares in the last quarter. Amundi grew its holdings in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. increased 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 acquiring an additional 1,565 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Shutterstock during the 4th quarter worth about $108,000. Hedge funds and other institutional investors own 82.79% of the company's stock.

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.