Susquehanna Fundamental Investments LLC Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

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

Several other large investors have also recently made changes to their positions in the company. Amundi raised its position in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after purchasing an additional 1,565 shares during the last quarter. R Squared Ltd purchased a new stake in Shutterstock during the 4th quarter valued at $108,000. Palouse Capital Management Inc. lifted its position in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after buying an additional 525 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Shutterstock during the fourth quarter worth $134,000. 82.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SSTK shares. Needham & Company LLC lowered their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. StockNews.com started coverage on Shutterstock in a research note on Tuesday, April 8th. They set a "hold" rating on the stock. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Shutterstock has a consensus rating of "Hold" and a consensus target price of $45.33.

Shutterstock Trading Up 2.1 %

NYSE:SSTK traded up $0.35 during midday trading on Friday, hitting $16.78. The stock had a trading volume of 356,615 shares, compared to its average volume of 538,182. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $17.94 and a 200 day moving average of $26.19. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The company has a market capitalization of $585.52 million, a price-to-earnings ratio of 16.45 and a beta of 1.13.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings data 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 20.39% and a net margin of 4.03%. The company had revenue of $242.62 million for the quarter, compared to analysts' expectations of $249.44 million. During the same quarter last year, the company earned $1.13 earnings per share. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 annualized dividend and a dividend yield of 7.87%. Shutterstock's dividend payout ratio (DPR) is presently 130.69%.

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.