Shutterstock, Inc. (NYSE:SSTK) Short Interest Update

Shutterstock, Inc. (NYSE:SSTK) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,025,874 shares, a decline of 42.7% from the April 15th total of 1,790,012 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average daily volume of 243,018 shares, the short-interest ratio is currently 4.2 days.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SSTK. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Wall Street Zen lowered Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings lowered Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Shutterstock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently modified their holdings of SSTK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Shutterstock by 12.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock valued at $557,000 after purchasing an additional 3,263 shares during the period. Millennium Management LLC grew its stake in shares of Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after purchasing an additional 327,203 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Shutterstock by 22.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 115,117 shares of the business services provider’s stock valued at $2,183,000 after purchasing an additional 21,083 shares during the period. Franklin Resources Inc. bought a new stake in shares of Shutterstock in the 2nd quarter valued at approximately $195,000. Finally, Prudential Financial Inc. grew its stake in shares of Shutterstock by 6.1% in the 2nd quarter. Prudential Financial Inc. now owns 25,824 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 1,490 shares during the period. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Performance

SSTK traded up $0.13 on Monday, hitting $16.65. 374,108 shares of the stock traded hands, compared to its average volume of 271,996. Shutterstock has a 52 week low of $14.36 and a 52 week high of $29.50. 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 market capitalization of $611.65 million, a PE ratio of -28.70 and a beta of 1.10. The business has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $18.37.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, February 17th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.38). Shutterstock had a negative net margin of 2.19% and a positive return on equity of 14.12%. The firm had revenue of $220.22 million for the quarter, compared to the consensus estimate of $252.28 million. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The company’s revenue was down 12.0% on a year-over-year basis. On average, research analysts predict that Shutterstock will post 2.73 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Thursday, June 4th. Shutterstock’s dividend payout ratio is currently -248.28%.

Shutterstock Company Profile

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.