Skandinaviska Enskilda Banken AB publ Takes $511,000 Position in Shutterstock, Inc. $SSTK

Skandinaviska Enskilda Banken AB publ bought a new position in Shutterstock, Inc. (NYSE:SSTK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,950 shares of the business services provider’s stock, valued at approximately $511,000.

Several other institutional investors have also recently added to or reduced their stakes in SSTK. Performa Ltd US LLC acquired a new position in Shutterstock in the first quarter valued at about $25,000. Signaturefd LLC raised its stake in shares of Shutterstock by 10,268.8% in the second quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 1,643 shares during the last quarter. CWM LLC boosted its holdings in shares of Shutterstock by 93.8% in the 1st quarter. CWM LLC now owns 1,810 shares of the business services provider’s stock worth $34,000 after acquiring an additional 876 shares in the last quarter. EMC Capital Management acquired a new position in Shutterstock in the second quarter worth $36,000. Finally, GAMMA Investing LLC grew its holdings in shares of Shutterstock by 71.8% during the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock worth $38,000 after purchasing an additional 834 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Shutterstock Stock Performance

Shares of NYSE:SSTK opened at $19.74 on Wednesday. The stock has a market capitalization of $700.97 million, a P/E ratio of 11.75 and a beta of 1.27. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $22.36 and a two-hundred day moving average price of $20.63.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.48). The business had revenue of $260.09 million for the quarter, compared to analyst estimates of $255.60 million. Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 EPS. Equities analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, December 4th. This represents a $1.32 annualized dividend and a dividend yield of 6.7%. Shutterstock’s payout ratio is presently 78.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SSTK shares. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

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.