California First Leasing Corp Has $846,000 Stock Position in Shutterstock, Inc. (NYSE:SSTK)

California First Leasing Corp reduced its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 43.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,885 shares of the business services provider’s stock after selling 21,500 shares during the quarter. California First Leasing Corp owned 0.08% of Shutterstock worth $846,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SSTK. Truvestments Capital LLC bought a new stake in shares of Shutterstock during the third quarter worth $31,000. R Squared Ltd bought a new stake in Shutterstock during the 4th quarter worth $108,000. Palouse Capital Management Inc. increased its holdings in Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares in the last quarter. Covestor Ltd raised its position in Shutterstock by 9.5% in the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 397 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new position in Shutterstock in the third quarter valued at about $284,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on SSTK shares. StockNews.com started coverage on Shutterstock in a research note on Thursday. They issued a “hold” rating for the company. Needham & Company LLC dropped their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Down 2.3 %

Shares of NYSE SSTK opened at $21.47 on Friday. The company’s 50 day moving average price is $29.34 and its 200-day moving average price is $31.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock, Inc. has a 52-week low of $21.37 and a 52-week high of $54.40. The company has a market capitalization of $748.47 million, a P/E ratio of 21.05 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results 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 firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same period last year, the company posted $0.72 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. Equities analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.33 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Thursday, March 6th. Shutterstock’s payout ratio is presently 130.69%.

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.