Shutterstock (NYSE:SSTK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Shutterstock (NYSE:SSTK) in a research note released on Saturday morning. The brokerage issued a hold rating on the business services provider’s stock.

A number of other equities analysts have also weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Truist Financial lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Needham & Company LLC lowered their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Price Performance

Shares of Shutterstock stock opened at $19.47 on Friday. The stock has a market cap of $679.39 million, a P/E ratio of 19.09 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 $27.13 and its 200 day moving average is $30.45. Shutterstock has a one year low of $19.13 and a one year high of $49.37.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate 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 return on equity of 20.39% and a net margin of 4.03%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Sell-side analysts anticipate that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a dividend of $0.33 per share. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.78%. Shutterstock’s dividend payout ratio is currently 130.69%.

Institutional Trading of Shutterstock

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Shutterstock by 97.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock worth $939,000 after acquiring an additional 13,088 shares in the last quarter. Quest Partners LLC raised its stake in Shutterstock by 436.2% during the third quarter. Quest Partners LLC now owns 28,987 shares of the business services provider’s stock valued at $1,025,000 after purchasing an additional 23,581 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Shutterstock by 2.0% during the third quarter. Segall Bryant & Hamill LLC now owns 47,437 shares of the business services provider’s stock valued at $1,678,000 after purchasing an additional 951 shares in the last quarter. Moors & Cabot Inc. bought a new position in Shutterstock during the third quarter valued at $284,000. Finally, Intech Investment Management LLC purchased a new position in shares of Shutterstock in the 3rd quarter worth $388,000. 82.79% of the stock is currently owned by institutional investors.

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.