Shutterstock (NYSE:SSTK) Shares Up 6.3% - Time to Buy?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) shot up 6.3% during mid-day trading on Wednesday . The stock traded as high as $19.12 and last traded at $18.95. 153,598 shares changed hands during trading, a decline of 70% from the average session volume of 508,681 shares. The stock had previously closed at $17.82.

Analyst Ratings Changes

Several analysts have recently commented on SSTK shares. Wall Street Zen raised Shutterstock to a "hold" rating in a report on Saturday, June 14th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research report on Monday, May 5th. Needham & Company LLC reduced their target price on Shutterstock from $30.00 to $25.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Finally, Truist Financial lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $43.67.

Shutterstock Stock Performance

The stock's fifty day simple moving average is $17.69 and its 200-day simple moving average is $22.99. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $648.42 million, a PE ratio of 16.88 and a beta of 1.15.

Shutterstock (NYSE:SSTK - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts' consensus estimates of $1.26 by ($0.23). Shutterstock had a return on equity of 17.70% and a net margin of 4.00%. The firm had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same quarter in the prior year, the company earned $1.13 EPS. The business's revenue was up 13.2% on a year-over-year basis. On average, research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend was Thursday, June 5th. Shutterstock's dividend payout ratio (DPR) is 121.10%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Performa Ltd US LLC purchased a new stake in shares of Shutterstock in the 1st quarter worth about $25,000. Versant Capital Management Inc raised its position in Shutterstock by 1,908.6% during the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider's stock worth $26,000 after acquiring an additional 1,336 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Shutterstock in the first quarter valued at about $28,000. CWM LLC lifted its holdings in shares of Shutterstock by 93.8% in the first quarter. CWM LLC now owns 1,810 shares of the business services provider's stock valued at $34,000 after purchasing an additional 876 shares in the last quarter. Finally, Amundi grew its position in shares of 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 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.