Snowden Capital Advisors LLC Buys 548 Shares of Shutterstock, Inc. (NYSE:SSTK)

Snowden Capital Advisors LLC grew its stake in Shutterstock, Inc. (NYSE:SSTK) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,701 shares of the business services provider’s stock after acquiring an additional 548 shares during the period. Snowden Capital Advisors LLC’s holdings in Shutterstock were worth $325,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. ProShare Advisors LLC bought a new position in shares of Shutterstock during the fourth quarter valued at approximately $222,000. Man Group plc boosted its stake in shares of Shutterstock by 220.7% during the fourth quarter. Man Group plc now owns 59,980 shares of the business services provider’s stock valued at $1,820,000 after purchasing an additional 41,280 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Shutterstock by 77.6% during the fourth quarter. Millennium Management LLC now owns 299,412 shares of the business services provider’s stock valued at $9,087,000 after purchasing an additional 130,831 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Shutterstock by 7.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,638 shares of the business services provider’s stock valued at $808,000 after purchasing an additional 1,827 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Shutterstock by 48.0% during the fourth quarter. Lazard Asset Management LLC now owns 29,163 shares of the business services provider’s stock valued at $885,000 after purchasing an additional 9,452 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC decreased their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, Wall Street Zen assumed coverage on shares of Shutterstock in a research report on Wednesday. They set a “buy” rating for the company. Three investment 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 an average rating of “Hold” and an average price target of $45.33.

Shutterstock Trading Up 3.8%

NYSE:SSTK opened at $18.57 on Friday. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10. The firm has a 50 day moving average of $17.36 and a 200 day moving average of $25.02. 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 stock has a market capitalization of $654.81 million, a price-to-earnings ratio of 18.21 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last posted 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). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $242.62 million for the quarter, compared to analysts’ expectations of $249.44 million. During the same period in the previous year, the company earned $1.13 EPS. The company’s revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.11%. Shutterstock’s dividend payout ratio is currently 121.10%.

About Shutterstock

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.