Shutterstock (NYSE:SSTK) Trading Up 3.8% – What’s Next?

Shutterstock, Inc. (NYSE:SSTK)’s stock price was up 3.8% on Monday . The stock traded as high as $18.47 and last traded at $18.47. Approximately 394,634 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 527,751 shares. The stock had previously closed at $17.79.

Analyst Ratings Changes

Several brokerages recently issued reports on SSTK. StockNews.com started coverage on shares of Shutterstock in a research note on Monday. They set a “hold” rating on the stock. Needham & Company LLC cut their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Up 5.4 %

The company has a market cap of $654.09 million, a price-to-earnings ratio of 18.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s fifty day moving average is $24.80 and its two-hundred day moving average is $29.34.

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 analysts’ consensus estimates of $0.92 by ($0.25). The company had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 7.04%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is currently 130.69%.

Institutional Trading of Shutterstock

A number of institutional investors and hedge funds have recently modified their holdings of SSTK. Dimensional Fund Advisors LP boosted its position in Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after purchasing an additional 189,015 shares during the last quarter. State Street Corp grew its position in Shutterstock by 1.4% during the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after buying an additional 13,039 shares during the period. Royce & Associates LP increased its holdings in Shutterstock by 18.1% during the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock worth $25,240,000 after buying an additional 127,399 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Shutterstock by 28.1% during the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after buying an additional 132,055 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after acquiring an additional 25,050 shares during the period. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.