Quest Partners LLC Purchases 23,581 Shares of Shutterstock, Inc. (NYSE:SSTK)

Quest Partners LLC boosted its position in Shutterstock, Inc. (NYSE:SSTK - Free Report) by 436.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,987 shares of the business services provider's stock after buying an additional 23,581 shares during the quarter. Quest Partners LLC owned approximately 0.08% of Shutterstock worth $1,025,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SSTK. Rubric Capital Management LP acquired a new stake in Shutterstock in the 2nd quarter valued at approximately $14,769,000. Epoch Investment Partners Inc. grew its position in Shutterstock by 68.8% in the 1st quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider's stock worth $40,503,000 after purchasing an additional 360,415 shares during the last quarter. TD Asset Management Inc grew its position in Shutterstock by 13.7% in the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider's stock worth $69,425,000 after purchasing an additional 215,539 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of 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 worth $18,724,000 after purchasing an additional 153,154 shares during the period. Finally, Invenomic Capital Management LP lifted its stake in shares of Shutterstock by 30.9% in the first quarter. Invenomic Capital Management LP now owns 594,475 shares of the business services provider's stock valued at $27,233,000 after buying an additional 140,339 shares during the period. Institutional investors and hedge funds own 82.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SSTK shares. Needham & Company LLC reiterated a "buy" rating and issued a $55.00 price objective on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley cut their price objective on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 21st. StockNews.com lowered shares of Shutterstock from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, Truist Financial decreased their price objective on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th.

Shutterstock Price Performance

Shares of Shutterstock stock traded down $0.42 during trading on Thursday, reaching $30.04. The company's stock had a trading volume of 53,318 shares, compared to its average volume of 509,997. The stock has a market capitalization of $1.05 billion, a P/E ratio of 29.86 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $32.32 and a two-hundred day moving average price of $36.18. Shutterstock, Inc. has a one year low of $28.85 and a one year high of $54.40.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.59 million during the quarter, compared to analysts' expectations of $240.90 million. During the same period in the prior year, the business posted $0.99 EPS. Shutterstock's revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Friday, November 29th. Shutterstock's dividend payout ratio is presently 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.