Shutterstock (NYSE:SSTK) Shares Up 4.5% – What’s Next?

Shutterstock, Inc. (NYSE:SSTK) shares were up 4.5% during trading on Monday . The company traded as high as $16.09 and last traded at $16.00. Approximately 316,576 shares changed hands during trading, a decline of 41% from the average daily volume of 539,750 shares. The stock had previously closed at $15.31.

Wall Street Analysts Forecast Growth

SSTK has been the topic of a number of research reports. Needham & Company LLC cut their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. StockNews.com initiated coverage on shares of Shutterstock in a report on Tuesday, April 8th. They issued a “hold” rating on the stock. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Performance

The company has a market capitalization of $561.79 million, a PE ratio of 15.78 and a beta of 1.13. The firm has a 50-day moving average of $20.03 and a two-hundred day moving average of $27.18. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $254.16 million. During the same period last year, the firm earned $0.72 earnings per share. Shutterstock’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a dividend of $0.33 per share. The ex-dividend date was 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 8.20%. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Hedge Funds Weigh In On Shutterstock

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of Shutterstock by 1,908.6% during the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock worth $26,000 after buying an additional 1,336 shares during the period. Amundi increased its holdings in Shutterstock by 26.2% in 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 in the last quarter. PNC Financial Services Group Inc. raised its position in Shutterstock by 167.6% during the fourth 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 purchased a new position in Shutterstock during the fourth quarter valued at $108,000. Finally, Palouse Capital Management Inc. grew its position 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 purchasing an additional 525 shares during the period. Institutional investors and hedge funds 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.