Rice Hall James & Associates LLC Has $18.72 Million Stake in Shutterstock, Inc. (NYSE:SSTK)

Rice Hall James & Associates LLC lifted its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 40.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,387 shares of the business services provider's stock after buying an additional 153,154 shares during the period. Shutterstock comprises about 1.0% of Rice Hall James & Associates LLC's investment portfolio, making the stock its 26th largest holding. Rice Hall James & Associates LLC owned 1.49% of Shutterstock worth $18,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. TD Asset Management Inc lifted its position 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 worth $72,306,000 after buying an additional 671,995 shares in the last quarter. LSV Asset Management raised its holdings in Shutterstock by 30.9% during the first quarter. LSV Asset Management now owns 1,793,785 shares of the business services provider's stock worth $82,173,000 after acquiring an additional 422,942 shares in the last quarter. Rubric Capital Management LP acquired a new position in Shutterstock during the second quarter valued at approximately $14,769,000. Epoch Investment Partners Inc. grew its stake in Shutterstock by 68.8% in the first quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider's stock valued at $40,503,000 after purchasing an additional 360,415 shares in the last quarter. Finally, Invenomic Capital Management LP increased its position in shares of Shutterstock by 30.9% during the 1st quarter. Invenomic Capital Management LP now owns 594,475 shares of the business services provider's stock worth $27,233,000 after purchasing an additional 140,339 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SSTK shares. StockNews.com downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Wednesday. Truist Financial cut their target price on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $55.00 price target on shares of Shutterstock in a research note on Tuesday. Finally, Morgan Stanley cut their price target on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 21st.

Shutterstock Stock Performance

Shares of Shutterstock stock traded up $0.04 on Friday, hitting $32.13. The stock had a trading volume of 850,419 shares, compared to its average volume of 520,401. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 32.19 and a beta of 1.09. The company has a quick ratio of 0.56, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a twelve month low of $28.95 and a twelve month high of $54.40. The business's 50 day moving average is $33.04 and its two-hundred day moving average is $37.16.

Shutterstock (NYSE:SSTK - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The business services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.01). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $220.05 million for the quarter, compared to the consensus estimate of $213.44 million. During the same quarter in the previous year, the business earned $0.76 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. Analysts forecast that Shutterstock, Inc. will post 2.99 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.73%. The ex-dividend date is Friday, November 29th. Shutterstock's dividend payout ratio (DPR) is 117.65%.

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.