Arrowstreet Capital Limited Partnership Invests $9.90 Million in Shutterstock, Inc. (NYSE:SSTK)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 326,308 shares of the business services provider's stock, valued at approximately $9,903,000. Arrowstreet Capital Limited Partnership owned approximately 0.94% of Shutterstock at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Tieton Capital Management LLC increased its position in shares of Shutterstock by 73.3% during the fourth quarter. Tieton Capital Management LLC now owns 283,700 shares of the business services provider's stock worth $8,610,000 after purchasing an additional 120,025 shares in the last quarter. LPL Financial LLC increased its position in shares of Shutterstock by 18.1% in the 4th quarter. LPL Financial LLC now owns 11,562 shares of the business services provider's stock valued at $351,000 after acquiring an additional 1,772 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Shutterstock in the 4th quarter valued at $134,000. AXQ Capital LP acquired a new position in shares of Shutterstock in the 4th quarter valued at $214,000. Finally, Sei Investments Co. increased its position in shares of Shutterstock by 6.2% in the 4th quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock valued at $1,791,000 after acquiring an additional 3,439 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SSTK has been the topic of several research reports. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. StockNews.com initiated coverage on Shutterstock in a research report on Tuesday. They set a "hold" rating on the stock. Needham & Company LLC cut their price target on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Shutterstock has an average rating of "Hold" and an average target price of $45.33.

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Shutterstock Price Performance

Shutterstock stock traded down $0.89 during midday trading on Thursday, reaching $15.78. The company had a trading volume of 45,347 shares, compared to its average volume of 534,683. The company has a market capitalization of $550.63 million, a P/E ratio of 15.47 and a beta of 1.13. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $46.10. The firm's fifty day simple moving average is $22.15 and its 200-day simple moving average is $28.15. 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 (NYSE:SSTK - Get Free Report) last released 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). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million during the quarter, compared to analysts' expectations of $254.16 million. During the same period last year, the business earned $0.72 earnings per share. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.33 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.37%. This is an increase from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is currently 130.69%.

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.