22,756 Shares in Shutterstock, Inc. (NYSE:SSTK) Acquired by Range Financial Group LLC

Range Financial Group LLC bought a new stake in shares of Shutterstock, Inc. (NYSE:SSTK) during the 4th quarter, HoldingsChannel reports. The firm bought 22,756 shares of the business services provider’s stock, valued at approximately $691,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Rubric Capital Management LP bought a new stake in Shutterstock in the 2nd quarter worth approximately $14,769,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Shutterstock in the 3rd quarter worth $8,493,000. Epoch Investment Partners Inc. grew its holdings in shares of Shutterstock by 22.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after acquiring an additional 201,391 shares during the period. Rice Hall James & Associates LLC increased its position in Shutterstock by 40.7% during the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after acquiring an additional 153,154 shares during the last quarter. Finally, Tieton Capital Management LLC bought a new position in Shutterstock in the second quarter valued at about $5,320,000. Institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SSTK shares. StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley decreased 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. Truist Financial cut their price objective 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 reaffirmed a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a report on Tuesday, October 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.67.

Shutterstock Price Performance

SSTK traded up $4.50 during trading on Tuesday, reaching $34.55. 5,088,805 shares of the company traded hands, compared to its average volume of 1,939,152. Shutterstock, Inc. has a 12-month low of $28.64 and a 12-month high of $54.40. The firm has a fifty day simple moving average of $31.54 and a 200 day simple moving average of $34.19. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $1.20 billion, a P/E ratio of 33.87 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. The business had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities analysts forecast that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock’s payout ratio is 117.65%.

Shutterstock Company 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.