Wall Street Zen Downgrades Shutterstock (NYSE:SSTK) to Hold

Wall Street Zen cut shares of Shutterstock (NYSE:SSTK) from a buy rating to a hold rating in a research report report published on Saturday.

Separately, Needham & Company LLC dropped their price objective on Shutterstock from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, June 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.67.

Shutterstock Trading Up 5.3%

Shares of SSTK stock opened at $22.04 on Friday. The stock has a market capitalization of $781.58 million, a PE ratio of 12.17 and a beta of 1.05. Shutterstock has a 1-year low of $14.35 and a 1-year high of $38.80. The business has a 50-day moving average of $20.27 and a 200 day moving average of $18.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.46). The company had revenue of $266.99 million for the quarter, compared to analysts’ expectations of $248.27 million. Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Thursday, September 4th. Shutterstock’s dividend payout ratio (DPR) is 72.93%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SSTK. Northern Trust Corp increased its holdings in shares of Shutterstock by 2.1% in the 4th quarter. Northern Trust Corp now owns 384,879 shares of the business services provider’s stock worth $11,681,000 after purchasing an additional 7,945 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Shutterstock by 13.8% in the 4th quarter. Ameriprise Financial Inc. now owns 433,950 shares of the business services provider’s stock worth $13,170,000 after purchasing an additional 52,682 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Shutterstock by 317.9% in the 4th quarter. BNP Paribas Financial Markets now owns 52,928 shares of the business services provider’s stock worth $1,606,000 after purchasing an additional 40,264 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Shutterstock by 467.9% in the 4th quarter. Deutsche Bank AG now owns 82,204 shares of the business services provider’s stock worth $2,495,000 after purchasing an additional 67,729 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Shutterstock by 48.0% in the 4th quarter. Lazard Asset Management LLC now owns 29,163 shares of the business services provider’s stock worth $885,000 after purchasing an additional 9,452 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

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.