R Squared Ltd Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

R Squared Ltd purchased a new position in Shutterstock, Inc. (NYSE:SSTK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,570 shares of the business services provider’s stock, valued at approximately $108,000.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in shares of Shutterstock in the third quarter valued at approximately $31,000. Quarry LP grew its position in Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after acquiring an additional 842 shares during the period. Covestor Ltd increased its stake in Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after acquiring an additional 397 shares during the last quarter. AXA S.A. lifted its stake in shares of Shutterstock by 38.4% in the 2nd quarter. AXA S.A. now owns 6,377 shares of the business services provider’s stock valued at $247,000 after purchasing an additional 1,768 shares during the last quarter. Finally, Moors & Cabot Inc. purchased a new position in shares of Shutterstock during the 3rd quarter worth $284,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SSTK. StockNews.com assumed coverage on shares of Shutterstock in a report on Sunday, January 26th. They issued a “hold” rating on the stock. Needham & Company LLC decreased their price objective on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Morgan Stanley dropped their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Truist Financial decreased their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.33.

Shutterstock Stock Performance

Shares of SSTK stock opened at $28.79 on Friday. The firm has a 50 day moving average of $30.98 and a two-hundred day moving average of $33.40. The stock has a market capitalization of $1.00 billion, a PE ratio of 28.22 and a beta of 1.08. 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, Inc. has a 52 week low of $27.30 and a 52 week high of $54.40.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. During the same period last year, the business posted $0.99 earnings per share. Shutterstock’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

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.