Mutual of America Capital Management LLC Acquires Shares of 4,188 Shutterstock, Inc. (NYSE:SSTK)

Mutual of America Capital Management LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,188 shares of the business services provider’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SSTK. Charles Schwab Investment Management Inc. raised its stake in Shutterstock by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 276,340 shares of the business services provider’s stock valued at $10,515,000 after acquiring an additional 11,333 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Shutterstock by 75,482.5% during the third quarter. Federated Hermes Inc. now owns 43,082 shares of the business services provider’s stock worth $1,639,000 after purchasing an additional 43,025 shares during the last quarter. Hussman Strategic Advisors Inc. lifted its holdings in shares of Shutterstock by 35.5% during the third quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the business services provider’s stock worth $1,598,000 after purchasing an additional 11,000 shares during the period. Schroder Investment Management Group acquired a new position in Shutterstock in the 3rd quarter valued at $7,046,000. Finally, Raymond James & Associates raised its position in Shutterstock by 13.6% during the 4th quarter. Raymond James & Associates now owns 62,343 shares of the business services provider’s stock worth $3,010,000 after buying an additional 7,447 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Insider Buying and Selling

In other Shutterstock news, insider John Caine sold 5,440 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $47.20, for a total transaction of $256,768.00. Following the completion of the transaction, the insider now directly owns 5,439 shares in the company, valued at approximately $256,720.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 32.30% of the company’s stock.

Analysts Set New Price Targets

SSTK has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Shutterstock in a report on Thursday, February 29th. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 29th. Morgan Stanley initiated coverage on Shutterstock in a research note on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 target price for the company. Finally, Truist Financial decreased their price target on Shutterstock from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.50.

Shutterstock Trading Up 2.2 %

SSTK stock opened at $42.78 on Wednesday. The company’s 50-day moving average price is $45.89 and its 200 day moving average price is $44.94. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $74.20. The company has a market cap of $1.52 billion, a P/E ratio of 14.12 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, topping the consensus estimate 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 company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend 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 payout ratio is 39.60%.

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.