Federated Hermes Inc. Has $48,000 Stake in Shutterstock, Inc. (NYSE:SSTK)

Federated Hermes Inc. reduced its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 98.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,567 shares of the business services provider's stock after selling 86,233 shares during the quarter. Federated Hermes Inc.'s holdings in Shutterstock were worth $48,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Amundi grew its position in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after purchasing an additional 1,565 shares in the last quarter. R Squared Ltd acquired a new position in Shutterstock in the fourth quarter valued at approximately $108,000. Palouse Capital Management Inc. boosted its holdings in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Shutterstock in the fourth quarter valued at approximately $134,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SSTK. StockNews.com started coverage on Shutterstock in a report on Tuesday, April 8th. They set a "hold" rating for the company. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Truist Financial lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Needham & Company LLC dropped their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Shutterstock currently has an average rating of "Hold" and a consensus target price of $45.33.

Shutterstock Price Performance

NYSE:SSTK traded up $0.34 during trading hours on Thursday, reaching $16.51. The company had a trading volume of 22,424 shares, compared to its average volume of 539,309. The stock has a 50-day moving average of $19.25 and a two-hundred day moving average of $26.92. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The firm has a market capitalization of $576.10 million, a PE ratio of 16.12 and a beta of 1.13. 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 (NYSE:SSTK - Get Free Report) last announced its earnings results 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). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the previous year, the company posted $0.72 EPS. Shutterstock's revenue for the quarter was up 15.2% on a year-over-year basis. Analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 8.00%. Shutterstock's payout ratio is 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.