Linden Thomas Advisory Services LLC Takes Position in Shutterstock, Inc. (NYSE:SSTK)

Linden Thomas Advisory Services LLC acquired a new position in Shutterstock, Inc. (NYSE:SSTK) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,182 shares of the business services provider’s stock, valued at approximately $250,000.

Several other large investors have also recently bought and sold shares of SSTK. Fifth Third Bancorp raised its position in shares of Shutterstock by 48.7% during the fourth quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock worth $43,000 after acquiring an additional 289 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Shutterstock by 317.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock worth $56,000 after purchasing an additional 890 shares during the period. Covestor Ltd raised its holdings in Shutterstock by 77.2% during the 3rd quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock worth $88,000 after purchasing an additional 1,014 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Shutterstock by 47.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider’s stock valued at $113,000 after purchasing an additional 954 shares during the period. Finally, Mutual of America Capital Management LLC bought a new position in shares of Shutterstock in the 4th quarter valued at about $202,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $42.36 on Friday. The company’s 50-day moving average price is $45.64 and its two-hundred day moving average price is $44.93. The stock has a market capitalization of $1.51 billion, a PE ratio of 13.98 and a beta of 1.09. Shutterstock, Inc. has a one year low of $33.80 and a one year high of $67.76.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $217.22 million during the quarter, compared to analysts’ expectations of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. On average, analysts anticipate that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.20 dividend on an annualized basis and a yield of 2.83%. Shutterstock’s payout ratio is 39.60%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SSTK. Morgan Stanley initiated coverage on shares of Shutterstock in a report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of Shutterstock in a research note on Thursday, February 29th. Truist Financial decreased their price objective on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.50.

Insiders Place Their Bets

In other Shutterstock news, insider John Caine sold 1,974 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $43.30, for a total value of $85,474.20. Following the completion of the sale, the insider now owns 7,413 shares in the company, valued at $320,982.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 32.30% of the company’s stock.

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.