Shutterstock, Inc. (NYSE:SSTK) Receives Consensus Rating of “Hold” from Brokerages

Shutterstock, Inc. (NYSE:SSTK) has earned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.00.

SSTK has been the subject of a number of analyst reports. Wall Street Zen cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $19.49 on Thursday. The firm has a market cap of $692.32 million, a price-to-earnings ratio of 11.60 and a beta of 1.27. Shutterstock has a 1 year low of $14.35 and a 1 year high of $32.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $19.16 and a 200 day simple moving average of $20.67.

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 firm 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%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 earnings per share. As a group, sell-side analysts predict that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. Shutterstock’s dividend payout ratio (DPR) is 78.57%.

Hedge Funds Weigh In On Shutterstock

A number of institutional investors have recently modified their holdings of SSTK. WealthCollab LLC boosted its holdings in shares of Shutterstock by 106.3% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after buying an additional 748 shares during the period. Signaturefd LLC lifted its position in Shutterstock by 10,268.8% during the 2nd quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,643 shares during the last quarter. Osaic Holdings Inc. grew its position in shares of Shutterstock by 150.6% in the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,065 shares during the last quarter. EMC Capital Management acquired a new stake in shares of Shutterstock in the second quarter valued at about $36,000. Finally, GAMMA Investing LLC increased its stake in shares of Shutterstock by 71.8% in the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock worth $38,000 after purchasing an additional 834 shares during the period. Institutional investors own 82.79% of the company’s stock.

About Shutterstock

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.