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

Tieton Capital Management LLC boosted its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 73.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in Shutterstock by 18.1% in the fourth quarter. LPL Financial LLC now owns 11,562 shares of the business services provider's stock worth $351,000 after purchasing an additional 1,772 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Shutterstock during the 4th quarter worth about $134,000. AXQ Capital LP bought a new stake in Shutterstock during the 4th quarter worth about $214,000. Sei Investments Co. increased its position in Shutterstock by 6.2% in the 4th quarter. Sei Investments Co. now owns 58,977 shares of the business services provider's stock valued at $1,791,000 after acquiring an additional 3,439 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Shutterstock by 11.6% in the fourth quarter. American Century Companies Inc. now owns 48,086 shares of the business services provider's stock worth $1,459,000 after acquiring an additional 4,984 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Shutterstock Trading Down 2.7 %

SSTK traded down $0.53 during midday trading on Tuesday, reaching $19.18. 424,284 shares of the company were exchanged, compared to its average volume of 512,098. The stock has a market capitalization of $669.27 million, a P/E ratio of 18.80 and a beta of 1.12. Shutterstock, Inc. has a one year low of $18.63 and a one year high of $47.89. The stock's 50-day simple moving average is $25.78 and its 200 day simple moving average is $29.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

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

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 6.88%. Shutterstock's payout ratio is currently 130.69%.

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.