KBC Group NV Cuts Position in Shutterstock, Inc. $SSTK

KBC Group NV decreased its position in Shutterstock, Inc. (NYSE:SSTK) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,371 shares of the business services provider’s stock after selling 4,632 shares during the quarter. KBC Group NV owned 0.18% of Shutterstock worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Shutterstock by 71.8% in the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 834 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in Shutterstock by 4.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,243 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 861 shares during the last quarter. CWM LLC lifted its position in Shutterstock by 93.8% during the first quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 876 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Shutterstock by 9.8% in the 2nd quarter. AlphaQuest LLC now owns 11,796 shares of the business services provider’s stock worth $224,000 after buying an additional 1,050 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Shutterstock by 8.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,475 shares of the business services provider’s stock worth $273,000 after buying an additional 1,158 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Wall Street Zen lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $25.00.

Shutterstock Price Performance

SSTK stock opened at $21.45 on Monday. The stock has a market cap of $761.62 million, a PE ratio of 12.77 and a beta of 1.21. Shutterstock, Inc. has a 12 month low of $14.35 and a 12 month high of $38.80. The company has a 50-day moving average price of $22.53 and a 200 day moving average price of $20.44. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The firm had revenue of $260.09 million during the quarter, compared to analysts’ expectations of $255.60 million. During the same period last year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, December 4th. Shutterstock’s dividend payout ratio (DPR) is currently 78.57%.

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.