Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK - Free Report) in a research note released on Monday morning. The brokerage issued a hold rating on the business services provider's stock.

Several other analysts have also recently commented on the company. Morgan Stanley lowered their target price on Shutterstock from $58.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 21st. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC reduced their price objective on shares of Shutterstock from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, January 13th. Finally, Truist Financial lowered 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Shutterstock has a consensus rating of "Hold" and an average price target of $50.33.

Shutterstock Stock Performance

Shutterstock stock traded up $0.97 during midday trading on Monday, reaching $31.02. 536,237 shares of the stock traded hands, compared to its average volume of 903,851. Shutterstock has a fifty-two week low of $27.30 and a fifty-two week high of $54.40. 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 firm has a market cap of $1.08 billion, a price-to-earnings ratio of 30.42 and a beta of 1.08. The firm has a fifty day moving average price of $30.81 and a two-hundred day moving average price of $32.99.

Shutterstock Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 4.25%. This is a boost from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is currently 117.65%.

Institutional Investors Weigh In On Shutterstock

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its stake 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 acquiring an additional 31,315 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Shutterstock by 4.6% in 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 purchasing an additional 25,050 shares during the period. Barclays PLC increased its stake in Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock worth $1,788,000 after purchasing an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Shutterstock during the 3rd quarter worth about $8,493,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Shutterstock by 110.7% during the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider's stock valued at $1,223,000 after buying an additional 18,174 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

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.