Segall Bryant & Hamill LLC Buys 951 Shares of Shutterstock, Inc. (NYSE:SSTK)

Segall Bryant & Hamill LLC increased its position in Shutterstock, Inc. (NYSE:SSTK) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,437 shares of the business services provider’s stock after buying an additional 951 shares during the period. Segall Bryant & Hamill LLC owned 0.14% of Shutterstock worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in shares of Shutterstock during the 1st quarter worth approximately $139,000. Rubric Capital Management LP purchased a new stake in Shutterstock during the second quarter valued at $14,769,000. Vanguard Group Inc. lifted its position in Shutterstock by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock valued at $134,048,000 after purchasing an additional 47,929 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Shutterstock by 95.4% in the 2nd quarter. Federated Hermes Inc. now owns 138,719 shares of the business services provider’s stock worth $5,368,000 after buying an additional 67,718 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Shutterstock by 110.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock worth $1,223,000 after buying an additional 18,174 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley dropped their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. StockNews.com cut Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial decreased their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a research note on Tuesday, October 29th.

Shutterstock Price Performance

SSTK opened at $30.98 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $32.22 and a 200 day moving average of $36.07. Shutterstock, Inc. has a 52-week low of $28.85 and a 52-week high of $54.40. The stock has a market cap of $1.08 billion, a P/E ratio of 30.37 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. The business had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company posted $0.99 earnings per share. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. Shutterstock’s dividend payout ratio 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.