Shutterstock (NYSE:SSTK) Coverage Initiated at StockNews.com

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

SSTK has been the subject of a number of other research reports. Needham & Company LLC cut 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. Truist Financial cut their target price on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $50.33.

Shutterstock Stock Down 3.7 %

Shares of SSTK stock traded down $0.98 on Wednesday, hitting $25.33. The company's stock had a trading volume of 525,692 shares, compared to its average volume of 754,114. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock has a fifty-two week low of $25.13 and a fifty-two week high of $54.40. The firm's fifty day moving average price is $30.10 and its 200-day moving average price is $32.09. The stock has a market capitalization of $883.11 million, a price-to-earnings ratio of 24.84 and a beta of 1.08.

Shutterstock Increases Dividend

The firm 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 $0.33 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a yield of 5.21%. This is a boost from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's payout ratio is presently 117.65%.

Institutional Trading of Shutterstock

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new stake in Shutterstock in the third quarter valued at about $31,000. Amundi grew its stake in Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after buying an additional 488 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock worth $76,000 after buying an additional 1,565 shares during the last quarter. R Squared Ltd bought a new stake in Shutterstock during the fourth quarter worth about $108,000. Finally, Palouse Capital Management Inc. grew its stake in Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after buying an additional 525 shares during the last quarter. Institutional investors own 82.79% of the company's stock.

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.