AlphaQuest LLC Sells 12,796 Shares of Shutterstock, Inc. (NYSE:SSTK)

AlphaQuest LLC reduced its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 44.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,191 shares of the business services provider's stock after selling 12,796 shares during the period. AlphaQuest LLC's holdings in Shutterstock were worth $491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of Shutterstock by 97.3% during the third quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider's stock valued at $939,000 after buying an additional 13,088 shares during the period. Quest Partners LLC increased its position in shares of 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 buying an additional 23,581 shares during the period. Segall Bryant & Hamill LLC increased its position in shares of 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 buying an additional 951 shares during the period. Moors & Cabot Inc. bought a new stake in shares of Shutterstock during the third quarter valued at about $284,000. Finally, Intech Investment Management LLC bought a new stake in shares of Shutterstock during the third quarter valued at about $388,000. 82.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SSTK. StockNews.com began coverage on Shutterstock in a report on Friday, March 7th. They set a "hold" rating for the company. Needham & Company LLC cut their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, JMP Securities reissued 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $45.33.

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Shutterstock Stock Down 2.0 %

Shares of SSTK opened at $19.83 on Thursday. The firm has a market cap of $691.77 million, a P/E ratio of 19.44 and a beta of 1.12. The stock has a 50 day simple moving average of $27.57 and a two-hundred day simple moving average of $30.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a 1 year low of $19.52 and a 1 year high of $52.45.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $250.30 million during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $0.72 EPS. On average, analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal 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 paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date is Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio is 130.69%.

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.

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