Shutterstock, Inc. (NYSE:SSTK) Short Interest Update

Shutterstock, Inc. (NYSE:SSTK) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,812,600 shares, an increase of 32.7% from the January 29th total of 1,366,231 shares. Approximately 7.5% of the company’s shares are short sold. Based on an average daily volume of 337,286 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 337,286 shares, the days-to-cover ratio is currently 5.4 days. Approximately 7.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

SSTK has been the topic of a number of recent analyst reports. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shutterstock presently has a consensus rating of “Hold” and an average price target of $25.00.

Shutterstock Stock Up 4.7%

SSTK stock traded up $0.79 during midday trading on Wednesday, hitting $17.50. The company’s stock had a trading volume of 424,184 shares, compared to its average volume of 332,573. The company’s fifty day moving average price is $18.14 and its 200 day moving average price is $20.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. Shutterstock has a twelve month low of $14.35 and a twelve month high of $29.50. The stock has a market capitalization of $622.07 million, a P/E ratio of 13.57 and a beta of 1.23.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, February 17th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.38). The company had revenue of $220.22 million during the quarter, compared to the consensus estimate of $252.28 million. Shutterstock had a net margin of 4.60% and a return on equity of 16.13%. Shutterstock’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, equities research analysts predict that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be given a dividend of $0.36 per share. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $1.44 annualized dividend and a dividend yield of 8.2%. Shutterstock’s payout ratio is presently 111.63%.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently made changes to their positions in SSTK. WealthCollab LLC increased its holdings in Shutterstock by 106.3% during the second 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 last quarter. Osaic Holdings Inc. increased its stake in shares of Shutterstock by 150.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the last quarter. EMC Capital Management acquired a new position in shares of Shutterstock during the 2nd quarter worth about $36,000. Covestor Ltd raised its holdings in shares of Shutterstock by 31.5% in the 3rd quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 707 shares during the period. Finally, Equitec Proprietary Markets LLC acquired a new stake in Shutterstock in the 2nd quarter valued at about $57,000. Institutional investors and hedge funds 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.