Quantbot Technologies LP Has $1.06 Million Holdings in Shutterstock, Inc. (NYSE:SSTK)

Quantbot Technologies LP lifted its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 138.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,836 shares of the business services provider’s stock after acquiring an additional 17,342 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of Shutterstock worth $1,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SSTK. Truvestments Capital LLC bought a new stake in shares of Shutterstock in the third quarter worth $31,000. Allspring Global Investments Holdings LLC grew its position in shares of Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after buying an additional 952 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Shutterstock in the second quarter valued at about $41,000. Quarry LP raised its position in shares of Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after acquiring an additional 842 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after acquiring an additional 838 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Up 0.7 %

Shutterstock stock opened at $31.68 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of 31.06 and a beta of 1.10. Shutterstock, Inc. has a 12-month low of $28.85 and a 12-month high of $54.40. The firm’s fifty day moving average is $31.87 and its 200 day moving average is $35.73. 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 (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, sell-side analysts predict that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.30 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.79%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial decreased their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th. Morgan Stanley cut their price target on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 21st. Finally, StockNews.com lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.