Copeland Capital Management LLC Has $48.13 Million Position in Shutterstock, Inc. (NYSE:SSTK)

Copeland Capital Management LLC decreased its stake in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,585,666 shares of the business services provider's stock after selling 14,538 shares during the period. Copeland Capital Management LLC owned 4.55% of Shutterstock worth $48,125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SSTK. R Squared Ltd purchased a new position in Shutterstock in the 4th quarter valued at about $108,000. KBC Group NV boosted its holdings in shares of Shutterstock by 1.5% during the fourth quarter. KBC Group NV now owns 66,069 shares of the business services provider's stock worth $2,005,000 after purchasing an additional 999 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in Shutterstock by 15.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,424 shares of the business services provider's stock valued at $407,000 after purchasing an additional 1,794 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Shutterstock by 14.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 30,270 shares of the business services provider's stock valued at $919,000 after buying an additional 3,734 shares during the period. Finally, Harbor Capital Advisors Inc. increased its stake in shares of Shutterstock by 1.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider's stock valued at $1,066,000 after acquiring an additional 532 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SSTK has been the subject of a number of recent analyst reports. StockNews.com started coverage on shares of Shutterstock in a report on Monday. They issued a "hold" rating for the company. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Morgan Stanley dropped their price target 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. Needham & Company LLC dropped their target price on shares of Shutterstock from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Finally, Truist Financial cut their target price 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $50.33.

Shutterstock Stock Performance

NYSE SSTK traded up $0.04 on Wednesday, hitting $29.81. The stock had a trading volume of 111,922 shares, compared to its average volume of 910,236. The company's 50-day moving average is $30.84 and its two-hundred day moving average is $33.01. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 29.21 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a one year low of $27.30 and a one year high of $54.40.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is currently 117.65%.

Shutterstock 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.