Royce & Associates LP Sells 9,198 Shares of Shutterstock, Inc. (NYSE:SSTK)

Royce & Associates LP lowered its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 704,227 shares of the business services provider’s stock after selling 9,198 shares during the period. Royce & Associates LP owned about 2.02% of Shutterstock worth $24,909,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after purchasing an additional 397 shares during the last quarter. Verity Asset Management Inc. lifted its stake in shares of Shutterstock by 140.4% in the 3rd quarter. Verity Asset Management Inc. now owns 14,401 shares of the business services provider’s stock valued at $509,000 after acquiring an additional 8,411 shares during the last quarter. Olympiad Research LP bought a new stake in shares of Shutterstock in the 3rd quarter valued at about $430,000. Harbor Capital Advisors Inc. lifted its stake in shares of Shutterstock by 110.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after acquiring an additional 18,174 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Shutterstock by 97.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock valued at $939,000 after acquiring an additional 13,088 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Down 2.3 %

Shares of NYSE:SSTK opened at $30.59 on Friday. Shutterstock, Inc. has a 1 year low of $28.95 and a 1 year high of $54.40. The company has a market cap of $1.07 billion, a PE ratio of 29.99 and a beta of 1.10. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50-day moving average is $32.61 and its 200 day moving average is $36.54.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. During the same quarter in the previous year, the business earned $0.99 EPS. Shutterstock’s revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.92%. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Analyst Ratings Changes

SSTK has been the subject of a number of recent research reports. Truist Financial lowered their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley lowered their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th. Finally, StockNews.com lowered Shutterstock from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Shutterstock 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.