Tieton Capital Management LLC Has $5.79 Million Stake in Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC increased its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,675 shares of the business services provider’s stock after purchasing an additional 26,220 shares during the quarter. Shutterstock makes up approximately 3.0% of Tieton Capital Management LLC’s portfolio, making the stock its 15th largest position. Tieton Capital Management LLC owned about 0.47% of Shutterstock worth $5,789,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rubric Capital Management LP bought a new stake in shares of Shutterstock in the 2nd quarter valued at approximately $14,769,000. Epoch Investment Partners Inc. increased its stake in shares of Shutterstock by 68.8% during the 1st quarter. Epoch Investment Partners Inc. now owns 884,148 shares of the business services provider’s stock worth $40,503,000 after purchasing an additional 360,415 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Shutterstock by 13.7% during the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock valued at $69,425,000 after purchasing an additional 215,539 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Shutterstock by 40.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after purchasing an additional 153,154 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its holdings in Shutterstock by 30.9% in the first quarter. Invenomic Capital Management LP now owns 594,475 shares of the business services provider’s stock worth $27,233,000 after purchasing an additional 140,339 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Shutterstock Price Performance

Shares of NYSE:SSTK opened at $30.98 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 30.37 and a beta of 1.10. The business has a 50 day moving average price of $32.27 and a 200 day moving average price of $36.13. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a twelve month low of $28.85 and a twelve month high of $54.40.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $240.90 million. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts predict that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Friday, November 29th. Shutterstock’s dividend payout ratio is currently 117.65%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial reduced their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 price objective on shares of Shutterstock in a research note on Tuesday, October 29th.

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.