Victory Capital Management Inc. Sells 33,187 Shares of Shutterstock, Inc. (NYSE:SSTK)

Victory Capital Management Inc. reduced its position in Shutterstock, Inc. (NYSE:SSTK) by 20.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 130,068 shares of the business services provider’s stock after selling 33,187 shares during the quarter. Victory Capital Management Inc.’s holdings in Shutterstock were worth $4,601,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Shutterstock by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock valued at $134,048,000 after acquiring an additional 47,929 shares during the period. TD Asset Management Inc lifted its position in shares of Shutterstock by 13.7% during the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock valued at $69,425,000 after acquiring an additional 215,539 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after acquiring an additional 201,391 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock valued at $33,648,000 after acquiring an additional 34,243 shares during the period. Finally, Invenomic Capital Management LP lifted its position in shares of Shutterstock by 30.9% during the 1st quarter. Invenomic Capital Management LP now owns 594,475 shares of the business services provider’s stock valued at $27,233,000 after acquiring an additional 140,339 shares during the period. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Up 3.1 %

Shutterstock stock 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 company has a market capitalization of $1.08 billion, a P/E ratio of 29.45 and a beta of 1.10. The firm has a 50 day moving average price of $32.27 and a 200-day moving average price of $36.13. Shutterstock, Inc. has a twelve month low of $28.85 and a twelve month high of $54.40.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts predict 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, November 29th. Shutterstock’s payout ratio is 117.65%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SSTK shares. StockNews.com downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. Truist Financial lowered their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st.

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.