Tieton Capital Management LLC Acquires 120,025 Shares of Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC lifted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 73.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 283,700 shares of the business services provider's stock after purchasing an additional 120,025 shares during the period. Shutterstock comprises about 3.5% of Tieton Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Tieton Capital Management LLC owned 0.81% of Shutterstock worth $8,610,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in shares of Shutterstock in the 3rd quarter valued at about $31,000. Amundi increased its stake in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider's stock worth $71,000 after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. lifted its position 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 during the last quarter. R Squared Ltd purchased a new stake in shares of Shutterstock during the fourth quarter valued at approximately $108,000. Finally, Palouse Capital Management Inc. boosted its stake in shares of Shutterstock by 13.7% during 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 during the period. Hedge funds and other institutional investors own 82.79% of the company's stock.

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Shutterstock Trading Down 3.5 %

Shares of NYSE:SSTK traded down $0.64 on Friday, hitting $17.79. The company had a trading volume of 467,727 shares, compared to its average volume of 528,049. The firm's 50-day simple moving average is $24.80 and its two-hundred day simple moving average is $29.39. The firm has a market capitalization of $620.66 million, a price-to-earnings ratio of 17.44 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, Inc. has a 1 year low of $17.57 and a 1 year high of $46.46.

Shutterstock (NYSE:SSTK - Get Free Report) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share 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 business had revenue of $250.30 million during the quarter, compared to analysts' expectations of $254.16 million. During the same period in the prior year, the company earned $0.72 earnings per share. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. Equities analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 7.42%. This is an increase from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio is presently 130.69%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Needham & Company LLC lowered their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, March 7th. StockNews.com assumed coverage on shares of Shutterstock in a report on Sunday, March 23rd. They set a "hold" rating for the company. Finally, JMP Securities restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Shutterstock presently has a consensus rating of "Hold" and an average target price of $45.33.

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.