Shutterstock (NYSE:SSTK - Free Report) had its price target reduced by Needham & Company LLC from $45.00 to $30.00 in a research note published on Friday, MarketBeat.com reports. They currently have a buy rating on the business services provider's stock.
Several other research analysts also recently commented on the company. StockNews.com initiated coverage on Shutterstock in a research note on Friday. They issued a "hold" rating for the company. Truist Financial lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $45.33.
Check Out Our Latest Stock Analysis on SSTK
Shutterstock Price Performance
Shares of SSTK stock traded down $0.13 during mid-day trading on Friday, hitting $20.30. 576,734 shares of the stock were exchanged, compared to its average volume of 733,831. Shutterstock has a 52-week low of $19.52 and a 52-week high of $52.45. 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 cap of $708.31 million, a PE ratio of 19.90 and a beta of 1.12. The firm has a fifty day moving average of $27.98 and a 200 day moving average of $30.84.
Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The business had revenue of $250.30 million for 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 business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 EPS. Research analysts anticipate that Shutterstock will post 3.12 earnings per share for the current year.
Shutterstock Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.50%. The ex-dividend date is Thursday, March 6th. This is an increase from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is 130.69%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Truvestments Capital LLC acquired a new position in Shutterstock during the 3rd quarter worth about $31,000. Amundi lifted its position in shares of Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after acquiring an additional 1,565 shares in the last quarter. R Squared Ltd acquired a new position in shares of Shutterstock in the 4th quarter valued at $108,000. Finally, Palouse Capital Management Inc. lifted its position 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 acquiring an additional 525 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
About Shutterstock
(
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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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