JMP Securities Reiterates Market Perform Rating for Shutterstock (NYSE:SSTK)

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

Other equities analysts have also issued reports about the company. StockNews.com began coverage on Shutterstock in a report on Tuesday, April 8th. They set a "hold" rating for the company. Needham & Company LLC reduced their target price 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. Finally, Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $45.33.

Shutterstock Stock Down 0.4 %

NYSE:SSTK traded down $0.07 during trading hours on Monday, hitting $18.69. 217,336 shares of the company traded hands, compared to its average volume of 534,552. Shutterstock has a one year low of $14.35 and a one year high of $46.10. The company has a market cap of $658.90 million, a PE ratio of 18.32 and a beta of 1.10. The firm's 50-day simple moving average is $17.58 and its 200-day simple moving average is $25.79. 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 (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). The business had revenue of $242.62 million during the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. Equities analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 7.06%. Shutterstock's payout ratio is currently 121.10%.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amundi grew its position in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after acquiring an additional 488 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Shutterstock by 11.3% in the 4th quarter. Covestor Ltd now owns 5,092 shares of the business services provider's stock worth $155,000 after purchasing an additional 515 shares in the last quarter. Palouse Capital Management Inc. increased its position in shares of 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 purchasing an additional 525 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Shutterstock by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock valued at $1,066,000 after purchasing an additional 532 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its holdings in shares of Shutterstock by 5.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider's stock valued at $325,000 after buying an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

About Shutterstock

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.