Shutterstock (NYSE:SSTK) Trading Up 4.7% – Here’s Why

Shutterstock, Inc. (NYSE:SSTK)’s stock price was up 4.7% on Tuesday . The stock traded as high as $19.15 and last traded at $19.1250. Approximately 76,005 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 388,769 shares. The stock had previously closed at $18.26.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

Shutterstock Trading Up 4.7%

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $20.94 and its two-hundred day moving average is $20.69. The stock has a market cap of $678.96 million, a price-to-earnings ratio of 11.38 and a beta of 1.27.

Shutterstock (NYSE:SSTK) last issued its earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.48). The company had revenue of $260.09 million during the quarter, compared to analyst estimates of $255.60 million. Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.Shutterstock’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. Equities analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 6.9%. Shutterstock’s payout ratio is currently 78.57%.

Institutional Trading of Shutterstock

Hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd grew its position in Shutterstock by 64.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 82,470 shares of the business services provider’s stock worth $1,720,000 after purchasing an additional 32,245 shares in the last quarter. Algert Global LLC acquired a new position in Shutterstock in the third quarter worth approximately $441,000. Creative Planning raised its position in Shutterstock by 40.9% during the third quarter. Creative Planning now owns 69,501 shares of the business services provider’s stock valued at $1,449,000 after acquiring an additional 20,189 shares in the last quarter. California State Teachers Retirement System lifted its stake in Shutterstock by 7.0% in the third quarter. California State Teachers Retirement System now owns 22,709 shares of the business services provider’s stock valued at $473,000 after acquiring an additional 1,493 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new stake in Shutterstock in the third quarter worth approximately $336,000. Institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.