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

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

SSTK has been the subject of several other reports. JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Truist Financial downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC decreased their price objective on Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.33.

Shutterstock Trading Down 1.5 %

NYSE:SSTK traded down $0.29 during mid-day trading on Friday, hitting $19.33. The company had a trading volume of 799,011 shares, compared to its average volume of 708,114. Shutterstock has a fifty-two week low of $18.63 and a fifty-two week high of $48.42. The business's fifty day moving average is $26.92 and its two-hundred day moving average is $30.31. The firm has a market cap of $674.57 million, a P/E ratio of 18.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

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

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.83%. Shutterstock's dividend payout ratio (DPR) is presently 130.69%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC bought a new position in Shutterstock in the third quarter valued at approximately $31,000. Amundi grew its stake in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider's stock valued at $71,000 after purchasing an additional 488 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider's stock valued at $76,000 after purchasing an additional 1,565 shares in the last quarter. R Squared Ltd bought a new position in Shutterstock in the fourth quarter valued at approximately $108,000. Finally, Palouse Capital Management Inc. grew its stake in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 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.