Susquehanna Fundamental Investments LLC Takes Position in Shutterstock, Inc. (NYSE:SSTK)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,015 shares of the business services provider's stock, valued at approximately $1,670,000. Susquehanna Fundamental Investments LLC owned 0.16% of Shutterstock as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amundi lifted its position in Shutterstock by 26.2% during 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. 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 during the period. 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. lifted its position in Shutterstock by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock worth $1,066,000 after buying an additional 532 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Shutterstock by 6.2% during the third quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider's stock valued at $545,000 after acquiring an additional 894 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Trading Up 0.5 %

NYSE SSTK traded up $0.09 during trading on Tuesday, hitting $17.61. The stock had a trading volume of 87,757 shares, compared to its average volume of 535,378. The firm has a 50 day moving average price of $17.83 and a 200 day moving average price of $26.06. 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, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. The company has a market capitalization of $620.65 million, a PE ratio of 17.29 and a beta of 1.10.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock's revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 earnings per share. As a group, equities research analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.50%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock's payout ratio is currently 121.10%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SSTK. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a report on Monday. Finally, StockNews.com upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Shutterstock has an average rating of "Hold" and an average target price of $45.33.

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.