Shutterstock (NYSE:SSTK) Shares Gap Up - Time to Buy?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $29.53, but opened at $33.01. Shutterstock shares last traded at $32.89, with a volume of 467,138 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SSTK shares. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of Shutterstock in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 21st. Finally, StockNews.com upgraded shares of Shutterstock from a "hold" rating to a "buy" rating in a research note on Tuesday, October 1st.

Shutterstock Trading Up 11.3 %

The company has a market cap of $1.16 billion, a price-to-earnings ratio of 25.44 and a beta of 1.09. The company's 50 day moving average price is $33.14 and its 200 day moving average price is $37.29.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company had revenue of $220.05 million during the quarter, compared to analyst estimates of $213.44 million. During the same quarter last year, the business earned $0.76 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts predict that Shutterstock, Inc. will post 2.99 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, November 29th. Shutterstock's dividend payout ratio (DPR) is 91.60%.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc increased its holdings in Shutterstock by 74.1% during the 1st quarter. TD Asset Management Inc now owns 1,578,386 shares of the business services provider's stock valued at $72,306,000 after acquiring an additional 671,995 shares in the last quarter. LSV Asset Management increased its holdings in Shutterstock by 30.9% during the 1st quarter. LSV Asset Management now owns 1,793,785 shares of the business services provider's stock valued at $82,173,000 after acquiring an additional 422,942 shares in the last quarter. Rubric Capital Management LP purchased a new position in Shutterstock during the 2nd quarter valued at about $14,769,000. Epoch Investment Partners Inc. increased its holdings in Shutterstock by 68.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider's stock valued at $40,503,000 after acquiring an additional 360,415 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider's stock valued at $18,724,000 after acquiring an additional 153,154 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

Shutterstock Company 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.