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

Analysts at StockNews.com assumed coverage on shares of Shutterstock (NYSE:SSTK - Get Free Report) in a report issued on Monday. The firm set a "hold" rating on the business services provider's stock.

Other equities analysts have also recently issued research reports about the company. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 7th. Finally, Truist Financial cut shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $45.33.

Shutterstock Stock Down 10.1 %

Shares of Shutterstock stock traded down $1.84 on Monday, reaching $16.30. The stock had a trading volume of 637,144 shares, compared to its average volume of 527,912. The company has a 50 day moving average price of $23.78 and a 200 day moving average price of $28.97. The stock has a market capitalization of $568.60 million, a P/E ratio of 15.98 and a beta of 1.12. 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 has a 1 year low of $16.19 and a 1 year high of $46.10.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS 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 firm had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period in the prior year, the firm posted $0.72 EPS. The business's revenue was up 15.2% compared to the same quarter last year. As a group, equities research analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Institutional Trading of Shutterstock

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership purchased a new position in Shutterstock during the fourth quarter worth $9,903,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Shutterstock in the 3rd quarter worth $8,493,000. Dimensional Fund Advisors LP grew its holdings in shares of Shutterstock by 22.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider's stock worth $30,904,000 after purchasing an additional 189,015 shares during the period. Invenomic Capital Management LP increased its position in shares of Shutterstock by 28.1% in the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider's stock worth $18,255,000 after acquiring an additional 132,055 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Shutterstock by 77.6% in the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider's stock valued at $9,087,000 after purchasing an additional 130,831 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company's stock.

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.