Royce & Associates LP Has $25.24 Million Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Royce & Associates LP increased its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 18.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 831,626 shares of the business services provider's stock after purchasing an additional 127,399 shares during the period. Royce & Associates LP owned approximately 2.39% of Shutterstock worth $25,240,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Shutterstock by 397.5% during the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider's stock worth $1,386,000 after purchasing an additional 31,315 shares in the last quarter. Geode Capital Management LLC lifted its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider's stock worth $20,275,000 after purchasing an additional 25,050 shares during the period. Barclays PLC boosted its stake in Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after buying an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Shutterstock in the 3rd quarter valued at $8,493,000. Finally, Weiss Asset Management LP acquired a new position in shares of Shutterstock in the 3rd quarter valued at $833,000. Institutional investors own 82.79% of the company's stock.

Shutterstock Price Performance

Shares of Shutterstock stock traded down $0.03 during trading on Thursday, reaching $19.54. The company's stock had a trading volume of 250,211 shares, compared to its average volume of 510,741. The stock has a 50-day moving average price of $26.40 and a two-hundred day moving average price of $30.12. The stock has a market capitalization of $681.72 million, a P/E ratio of 19.15 and a beta of 1.12. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a one year low of $18.63 and a one year high of $48.42.

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Shutterstock (NYSE:SSTK - Get Free Report) last announced its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.76%. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. Shutterstock's dividend payout ratio (DPR) is presently 130.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SSTK. StockNews.com began coverage on shares of Shutterstock in a research note on Saturday, March 15th. They issued a "hold" rating on the stock. Needham & Company LLC cut their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 7th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $45.33.

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.