International Assets Investment Management LLC Buys 18,912 Shares of Shutterstock, Inc. (NYSE:SSTK)

International Assets Investment Management LLC increased its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 4,728.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,312 shares of the business services provider’s stock after acquiring an additional 18,912 shares during the quarter. International Assets Investment Management LLC owned approximately 0.05% of Shutterstock worth $932,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp boosted its position in shares of Shutterstock by 48.7% during the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock worth $43,000 after purchasing an additional 289 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in Shutterstock by 1,165.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,329 shares of the business services provider’s stock worth $51,000 after acquiring an additional 1,224 shares in the last quarter. Covestor Ltd grew its stake in Shutterstock by 77.2% in the third quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,014 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Shutterstock by 47.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 954 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Shutterstock by 32.9% during the third quarter. Daiwa Securities Group Inc. now owns 5,690 shares of the business services provider’s stock worth $217,000 after purchasing an additional 1,410 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Price Performance

SSTK opened at $42.78 on Wednesday. Shutterstock, Inc. has a fifty-two week low of $33.80 and a fifty-two week high of $74.20. The firm has a market capitalization of $1.52 billion, a P/E ratio of 14.12 and a beta of 1.09. The company’s 50-day moving average is $45.89 and its 200 day moving average is $44.94.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The business had revenue of $217.22 million for the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. On average, equities research analysts expect that Shutterstock, Inc. will post 3.13 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 29th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Wednesday, February 28th. This is an increase from Shutterstock’s previous quarterly dividend of $0.27. Shutterstock’s dividend payout ratio (DPR) is 39.60%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Shutterstock in a research report on Thursday, February 29th. StockNews.com cut shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Morgan Stanley began coverage on Shutterstock in a report on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Insiders Place Their Bets

In other news, insider John Caine sold 1,974 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $43.30, for a total transaction of $85,474.20. Following the completion of the sale, the insider now owns 7,413 shares in the company, valued at approximately $320,982.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 32.30% of the company’s stock.

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.