Shutterstock (NYSE:SSTK) Shares Gap Up – What’s Next?

Shutterstock, Inc. (NYSE:SSTK) shares gapped up prior to trading on Monday . The stock had previously closed at $16.05, but opened at $18.00. Shutterstock shares last traded at $16.3660, with a volume of 372,201 shares changing hands.

Analysts Set New Price Targets

SSTK has been the topic of a number of research analyst reports. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

Shutterstock Stock Down 1.7%

The firm has a market capitalization of $560.77 million, a price-to-earnings ratio of 12.20 and a beta of 1.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.54 and a current ratio of 0.54. The business’s 50 day moving average is $18.50 and its 200-day moving average is $20.48.

Shutterstock (NYSE:SSTK) last released 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). Shutterstock had a return on equity of 16.13% and a net margin of 4.60%.The firm had revenue of $220.22 million for the quarter, compared to the consensus estimate of $252.28 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue was down 12.0% compared to the same quarter last year. Equities analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.36 per share. This is an increase from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, March 5th. This represents a $1.44 annualized dividend and a dividend yield of 9.1%. Shutterstock’s dividend payout ratio is 102.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. WealthCollab LLC lifted its position in shares of Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 748 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Shutterstock by 150.6% in the 2nd 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 in the last quarter. EMC Capital Management acquired a new stake in Shutterstock in the second quarter valued at approximately $36,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Shutterstock during the second quarter worth about $57,000. Finally, Covestor Ltd grew its position 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 worth $62,000 after acquiring an additional 707 shares in the last quarter. 82.79% of the stock is 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.