Royce & Associates LP Increases Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Royce & Associates LP grew its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 831,626 shares of the business services provider’s stock after acquiring an additional 127,399 shares during the quarter. Royce & Associates LP owned about 2.39% of Shutterstock worth $25,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Amundi boosted its holdings in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. Palouse Capital Management Inc. boosted its holdings 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 worth $132,000 after buying an additional 525 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Shutterstock by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock worth $1,066,000 after buying an additional 532 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Shutterstock in the third quarter worth approximately $31,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Shutterstock by 6.2% in the third quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock worth $545,000 after buying an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SSTK. Needham & Company LLC dropped their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com began coverage on shares of Shutterstock in a report on Saturday. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.33.

Shutterstock Price Performance

NYSE SSTK opened at $19.47 on Monday. Shutterstock, Inc. has a 12 month low of $19.13 and a 12 month high of $49.37. The stock has a market cap of $679.39 million, a price-to-earnings ratio of 19.09 and a beta of 1.12. The company’s 50 day moving average is $27.13 and its two-hundred day moving average is $30.42. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the previous year, the business posted $0.72 EPS. Shutterstock’s revenue was up 15.2% on a year-over-year basis. As a group, research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current 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 given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 6.78%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Shutterstock Company 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.