Shutterstock (NYSE:SSTK) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Shutterstock (NYSE:SSTK) from a sell rating to a hold rating in a report released on Saturday.

Several other analysts have also recently commented on the stock. Weiss Ratings cut shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Citigroup upgraded shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, June 5th. Finally, Zacks Research cut shares of Shutterstock from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shutterstock has an average rating of “Reduce” and an average price target of $7.00.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $7.43 on Friday. The firm has a market capitalization of $272.87 million, a P/E ratio of -12.81 and a beta of 1.06. Shutterstock has a one year low of $7.17 and a one year high of $29.50. The company’s fifty day moving average is $13.12 and its two-hundred day moving average is $16.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.51 and a current ratio of 0.51.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were given a $0.36 dividend. The ex-dividend date was Thursday, June 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 19.4%. Shutterstock’s dividend payout ratio (DPR) is currently -248.28%.

Institutional Investors Weigh In On Shutterstock

Several institutional investors and hedge funds have recently made changes to their positions in SSTK. Empowered Funds LLC acquired a new stake in Shutterstock in the 1st quarter valued at about $180,000. Bank of America Corp DE increased its holdings in Shutterstock by 6.9% during the 1st quarter. Bank of America Corp DE now owns 303,539 shares of the business services provider’s stock valued at $5,042,000 after acquiring an additional 19,515 shares in the last quarter. Callodine Capital Management LP raised its position in Shutterstock by 23.0% during the first quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider’s stock worth $21,130,000 after acquiring an additional 238,176 shares during the last quarter. Rice Hall James & Associates LLC raised its position in Shutterstock by 7.3% during the first quarter. Rice Hall James & Associates LLC now owns 733,662 shares of the business services provider’s stock worth $12,186,000 after acquiring an additional 50,200 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Shutterstock by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 427,114 shares of the business services provider’s stock valued at $7,094,000 after purchasing an additional 26,144 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.