Brown Advisory Inc. Has $25.81 Million Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Brown Advisory Inc. lowered its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 850,545 shares of the business services provider’s stock after selling 58,653 shares during the quarter. Brown Advisory Inc.’s holdings in Shutterstock were worth $25,814,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Amundi raised its stake in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,565 shares during the last quarter. R Squared Ltd acquired a new position in Shutterstock in the fourth quarter worth $108,000. Palouse Capital Management Inc. boosted its stake in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Shutterstock during the fourth quarter worth $134,000. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Up 4.6 %

Shares of NYSE:SSTK opened at $17.53 on Tuesday. The company has a 50 day moving average of $17.83 and a 200-day moving average of $26.06. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The stock has a market cap of $611.69 million, a price-to-earnings ratio of 17.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42.

Shutterstock (NYSE:SSTK) last released its earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). The business had revenue of $242.62 million for the quarter, compared to analyst estimates of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 EPS. On average, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date is Thursday, June 5th. Shutterstock’s dividend payout ratio (DPR) is currently 130.69%.

Wall Street Analyst Weigh In

SSTK has been the topic of several research reports. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC lowered their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Shutterstock presently has a consensus rating of “Hold” and a consensus price target of $45.33.

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.