Graham Capital Management L.P. Purchases New Position in Shutterstock, Inc. (NYSE:SSTK)

Graham Capital Management L.P. acquired a new position in shares of Shutterstock, Inc. (NYSE:SSTK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,292 shares of the business services provider’s stock, valued at approximately $525,000.

A number of other institutional investors have also recently bought and sold shares of the company. Amundi lifted its holdings in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings 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 buying an additional 1,565 shares during the period. R Squared Ltd bought a new position in Shutterstock in the fourth quarter valued at approximately $108,000. Palouse Capital Management Inc. boosted its holdings in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after buying an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Shutterstock during the fourth quarter worth $134,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

NYSE:SSTK opened at $18.84 on Friday. Shutterstock, Inc. has a 52-week low of $14.35 and a 52-week high of $46.10. The company has a market cap of $664.19 million, a P/E ratio of 18.47 and a beta of 1.10. 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 stock’s 50-day simple moving average is $17.50 and its 200 day simple moving average is $25.51.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). The company had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $1.13 EPS. As a group, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.01%. Shutterstock’s payout ratio is 121.10%.

Analyst Ratings Changes

Several equities research analysts recently commented on SSTK shares. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, May 5th. StockNews.com started coverage on Shutterstock in a research report on Tuesday. They issued a “buy” rating on the stock. Finally, Needham & Company LLC reduced their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.33.

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.