Victory Capital Management Inc. Sells 88,698 Shares of Shutterstock, Inc. (NYSE:SSTK)

Victory Capital Management Inc. decreased its position in shares of Shutterstock, Inc. (NYSE:SSTK - Free Report) by 68.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,370 shares of the business services provider's stock after selling 88,698 shares during the period. Victory Capital Management Inc. owned 0.12% of Shutterstock worth $1,256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new position in shares of Shutterstock in the third quarter valued at $31,000. R Squared Ltd bought a new position in shares of Shutterstock in the fourth quarter valued at $108,000. Palouse Capital Management Inc. increased its holdings in shares of 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 buying an additional 525 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of Shutterstock in the third quarter valued at $284,000. Finally, National Bank of Canada FI increased its holdings in shares of Shutterstock by 74.0% in the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider's stock valued at $338,000 after buying an additional 4,061 shares in the last quarter. Institutional investors own 82.79% of the company's stock.

Shutterstock Stock Up 0.2 %

NYSE:SSTK traded up $0.03 during trading hours on Friday, hitting $19.55. 704,416 shares of the stock traded hands, compared to its average volume of 512,487. The firm has a 50 day moving average price of $25.96 and a 200 day moving average price of $29.90. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a fifty-two week low of $18.63 and a fifty-two week high of $47.89. The firm has a market cap of $682.18 million, a price-to-earnings ratio of 19.17 and a beta of 1.12.

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Shutterstock (NYSE:SSTK - Get Free Report) last announced its 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 net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same period last year, the firm earned $0.72 earnings per share. Shutterstock's revenue for the quarter was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.33 per share. This is a boost from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 6.75%. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock's payout ratio is currently 130.69%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SSTK. StockNews.com began coverage on Shutterstock in a report on Sunday. They issued a "hold" rating on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC cut their target price on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $45.33.

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.