Shutterstock (NYSE:SSTK) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Shutterstock (NYSE:SSTK) in a report issued on Thursday. The firm issued a hold rating on the business services provider’s stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC dropped their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shutterstock presently has an average rating of “Hold” and a consensus price target of $50.33.

Shutterstock Trading Down 3.5 %

SSTK opened at $22.00 on Thursday. Shutterstock has a one year low of $21.81 and a one year high of $54.40. The company has a market cap of $766.77 million, a P/E ratio of 21.56 and a beta of 1.08. 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 business’s 50-day simple moving average is $29.49 and its 200-day simple moving average is $31.68.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. During the same quarter in the previous year, the company posted $0.72 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts expect that Shutterstock will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.33 dividend. The ex-dividend date is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.00%. Shutterstock’s dividend payout ratio is 130.69%.

Institutional Trading of Shutterstock

A number of large investors have recently made changes to their positions in SSTK. Truvestments Capital LLC acquired a new stake in Shutterstock during the 3rd quarter worth approximately $31,000. Amundi lifted its position in Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after acquiring an additional 488 shares during the period. PNC Financial Services Group Inc. lifted its position in 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 worth $76,000 after acquiring an additional 1,565 shares during the period. R Squared Ltd acquired a new stake in Shutterstock during the 4th quarter worth approximately $108,000. Finally, Palouse Capital Management Inc. lifted its position in Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

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.