Charles Schwab Investment Management Inc. Raises Position in Shutterstock, Inc. (NYSE:SSTK)

Charles Schwab Investment Management Inc. raised its stake in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,204 shares of the business services provider's stock after buying an additional 30,309 shares during the period. Charles Schwab Investment Management Inc. owned 1.01% of Shutterstock worth $10,659,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SSTK. Hotchkis & Wiley Capital Management LLC acquired a new stake in Shutterstock during the 3rd quarter worth approximately $8,493,000. Barclays PLC lifted its holdings in Shutterstock by 238.6% during the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after buying an additional 35,632 shares during the period. Petrus Trust Company LTA bought a new stake in shares of Shutterstock in the 3rd quarter valued at about $1,149,000. FMR LLC raised its position in shares of Shutterstock by 397.5% during the third quarter. FMR LLC now owns 39,193 shares of the business services provider's stock worth $1,386,000 after acquiring an additional 31,315 shares during the last quarter. Finally, Tieton Capital Management LLC boosted its holdings in Shutterstock by 19.1% in the third quarter. Tieton Capital Management LLC now owns 163,675 shares of the business services provider's stock valued at $5,789,000 after acquiring an additional 26,220 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

Shutterstock Stock Down 3.6 %

NYSE:SSTK traded down $0.68 during trading hours on Wednesday, reaching $18.54. The company had a trading volume of 587,216 shares, compared to its average volume of 511,839. The firm has a market cap of $646.83 million, a price-to-earnings ratio of 18.17 and a beta of 1.12. The business's 50-day simple moving average is $25.57 and its two-hundred day simple moving average is $29.66. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a twelve month low of $18.39 and a twelve month high of $47.89.

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Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly 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). The firm had revenue of $250.30 million for the quarter, compared to analyst estimates 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 company posted $0.72 earnings per share. On average, equities analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.33 per share. This is an increase from Shutterstock's previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 7.12%. Shutterstock's dividend payout ratio is presently 130.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SSTK. StockNews.com initiated coverage on shares of Shutterstock in a research report on Sunday. They issued a "hold" rating on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC lowered their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Finally, Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $45.33.

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.