Shutterstock (NYSE:SSTK) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a report published on Monday. The firm issued a hold rating on the business services provider’s stock.

Other research analysts have also recently issued research reports about the company. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC decreased their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.33.

Shutterstock Price Performance

Shutterstock stock opened at $30.10 on Monday. The stock has a market cap of $1.05 billion, a P/E ratio of 29.51 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average price is $30.81 and its two-hundred day moving average price is $32.99. Shutterstock has a 52 week low of $27.30 and a 52 week high of $54.40.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is presently 129.41%.

Institutional Trading of Shutterstock

Several institutional investors have recently added to or reduced their stakes in SSTK. Los Angeles Capital Management LLC boosted its stake in shares of Shutterstock by 6.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,196 shares of the business services provider’s stock valued at $734,000 after purchasing an additional 1,386 shares during the period. Hussman Strategic Advisors Inc. boosted its position in Shutterstock by 50.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the business services provider’s stock valued at $1,912,000 after buying an additional 21,000 shares during the period. Rice Hall James & Associates LLC grew its holdings in Shutterstock by 3.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock worth $16,617,000 after acquiring an additional 18,133 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Shutterstock by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 149,039 shares of the business services provider’s stock valued at $4,523,000 after acquiring an additional 5,204 shares during the period. Finally, Palouse Capital Management Inc. raised its stake in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 525 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.