22,756 Shares in Shutterstock, Inc. (NYSE:SSTK) Bought by Range Financial Group LLC

Range Financial Group LLC acquired a new position in Shutterstock, Inc. (NYSE:SSTK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,756 shares of the business services provider's stock, valued at approximately $691,000. Range Financial Group LLC owned about 0.07% of Shutterstock at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SSTK. Epoch Investment Partners Inc. grew its stake in Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider's stock valued at $42,010,000 after acquiring an additional 201,391 shares in the last quarter. State Street Corp increased its stake in shares of Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider's stock worth $34,192,000 after acquiring an additional 13,039 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider's stock worth $33,648,000 after acquiring an additional 34,243 shares during the period. Geode Capital Management LLC boosted its position in shares of Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider's stock valued at $20,275,000 after acquiring an additional 25,050 shares during the last quarter. Finally, Rice Hall James & Associates LLC grew its holdings in shares of Shutterstock by 40.7% in the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider's stock valued at $18,724,000 after purchasing an additional 153,154 shares during the period. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Stock Up 15.0 %

SSTK traded up $4.50 on Tuesday, hitting $34.55. 5,089,196 shares of the company were exchanged, compared to its average volume of 1,940,565. 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 company has a market cap of $1.20 billion, a price-to-earnings ratio of 33.87 and a beta of 1.08. The firm has a 50-day moving average price of $31.54 and a two-hundred day moving average price of $34.19. Shutterstock, Inc. has a twelve month low of $28.64 and a twelve month high of $54.40.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.59 million for the quarter, compared to analysts' expectations of $240.90 million. During the same quarter last year, the company earned $0.99 earnings per share. The firm's revenue was up 7.4% compared to the same quarter last year. On average, equities analysts predict that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.47%. The ex-dividend date was Friday, November 29th. Shutterstock's payout ratio is 117.65%.

Analyst Ratings Changes

A number of research analysts recently commented on SSTK shares. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a report on Monday. Truist Financial lowered 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, October 30th. StockNews.com downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Monday. Needham & Company LLC reissued a "buy" rating and issued a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. Finally, Morgan Stanley dropped their price objective on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $53.67.

About Shutterstock

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.