StockNews.com Begins Coverage on Shutterstock (NYSE:SSTK)

StockNews.com began coverage on shares of Shutterstock (NYSE:SSTK) in a report issued on Tuesday. The brokerage issued a hold rating on the business services provider’s stock.

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

Shutterstock Trading Down 0.3 %

Shares of NYSE SSTK opened at $29.41 on Tuesday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 28.84 and a beta of 1.08. The business has a 50 day simple moving average of $30.61 and a 200 day simple moving average of $32.61. Shutterstock has a 52 week low of $27.30 and a 52 week high of $54.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.33 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock’s payout ratio is 117.65%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership bought a new stake in shares of Shutterstock in the fourth quarter valued at approximately $9,903,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Shutterstock in the third quarter valued at approximately $8,493,000. Rice Hall James & Associates LLC boosted its position in shares of Shutterstock by 40.7% in the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after acquiring an additional 153,154 shares during the period. Royce & Associates LP boosted its position in shares of Shutterstock by 18.1% in the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after acquiring an additional 127,399 shares during the period. Finally, Tieton Capital Management LLC boosted its position in shares of Shutterstock by 73.3% in the fourth quarter. Tieton Capital Management LLC now owns 283,700 shares of the business services provider’s stock valued at $8,610,000 after acquiring an additional 120,025 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.