Rice Hall James & Associates LLC Grows Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Rice Hall James & Associates LLC lifted its stake in Shutterstock, Inc. (NYSE:SSTK) by 21.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 666,348 shares of the business services provider’s stock after buying an additional 118,828 shares during the period. Rice Hall James & Associates LLC’s holdings in Shutterstock were worth $12,414,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Shutterstock by 1,908.6% in the 1st quarter. Versant Capital Management Inc now owns 1,406 shares of the business services provider’s stock worth $26,000 after buying an additional 1,336 shares during the last quarter. CWM LLC boosted its stake in Shutterstock by 93.8% during the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 876 shares during the last quarter. Amundi boosted its stake in Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Shutterstock by 167.6% during 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. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on SSTK shares. Needham & Company LLC cut their target price on Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded Shutterstock to a “hold” rating in a research note on Saturday, June 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average price target of $43.67.

Shutterstock Stock Performance

SSTK stock opened at $19.24 on Monday. The company has a market cap of $678.29 million, a P/E ratio of 17.65 and a beta of 1.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s fifty day moving average price is $18.67 and its 200-day moving average price is $21.68. Shutterstock, Inc. has a 1 year low of $14.35 and a 1 year high of $46.10.

Shutterstock (NYSE:SSTK) last released its earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.23). The company had revenue of $242.62 million for the quarter, compared to analysts’ expectations of $249.44 million. Shutterstock had a net margin of 4.00% and a return on equity of 17.70%. Shutterstock’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.32 annualized dividend and a yield of 6.86%. Shutterstock’s dividend payout ratio (DPR) is presently 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.