Manning & Napier Advisors LLC Purchases Shares of 100,000 Shutterstock, Inc. $SSTK

Manning & Napier Advisors LLC purchased a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the first quarter, HoldingsChannel.com reports. The firm purchased 100,000 shares of the business services provider’s stock, valued at approximately $1,661,000.

Several other hedge funds have also recently made changes to their positions in the business. WealthCollab LLC boosted its position in shares of Shutterstock by 106.2% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 748 shares in the last quarter. Osaic Holdings Inc. grew its stake in Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the period. Tower Research Capital LLC TRC increased its holdings in Shutterstock by 72.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,388 shares in the last quarter. Covestor Ltd increased its holdings in Shutterstock by 87.7% in the fourth quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock worth $106,000 after purchasing an additional 2,587 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Shutterstock in the third quarter valued at approximately $111,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Performance

Shares of SSTK stock opened at $8.49 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $14.00 and a two-hundred day simple moving average of $16.36. Shutterstock, Inc. has a 12 month low of $8.31 and a 12 month high of $29.50. The firm has a market capitalization of $312.07 million, a PE ratio of -14.64 and a beta of 1.06.

Shutterstock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, June 4th. This represents a $1.44 dividend on an annualized basis and a yield of 17.0%. Shutterstock’s payout ratio is -248.28%.

Analyst Ratings Changes

SSTK has been the subject of several recent analyst reports. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Zacks Research downgraded shares of Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 11th. Wall Street Zen lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Shutterstock presently has an average rating of “Reduce” and an average target price of $7.00.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.