Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

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

A number of other research analysts have also recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC decreased their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Shutterstock currently has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Down 7.9 %

Shares of NYSE:SSTK opened at $15.36 on Tuesday. The stock has a fifty day simple moving average of $21.87 and a two-hundred day simple moving average of $28.01. The stock has a market capitalization of $536.01 million, a price-to-earnings ratio of 15.06 and a beta of 1.13. Shutterstock has a 12-month low of $14.35 and a 12-month high of $46.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

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

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 8.59%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is currently 130.69%.

Institutional Trading of Shutterstock

Several large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Shutterstock by 25,981.9% in the first quarter. GAMMA Investing LLC now owns 21,648 shares of the business services provider’s stock worth $403,000 after acquiring an additional 21,565 shares during the period. Versant Capital Management Inc grew its holdings in shares of Shutterstock by 1,908.6% in the first quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,336 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Shutterstock by 11.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider’s stock worth $201,000 after acquiring an additional 682 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Shutterstock in the fourth quarter worth $2,716,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Shutterstock in the fourth quarter worth $552,000. Institutional investors own 82.79% of the company’s stock.

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.