Shutterstock (NYSE:SSTK) Issues Earnings Results

Shutterstock (NYSE:SSTK) released its quarterly earnings data on Tuesday. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.38), FiscalAI reports. Shutterstock had a return on equity of 16.16% and a net margin of 4.60%.The business had revenue of $220.22 million during the quarter. During the same period in the previous year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year.

Shutterstock Price Performance

SSTK traded up $0.44 during trading on Thursday, reaching $15.50. The stock had a trading volume of 383,297 shares, compared to its average volume of 272,209. The stock has a market cap of $550.56 million, a PE ratio of 12.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. Shutterstock has a one year low of $14.35 and a one year high of $29.50. The business has a 50-day moving average of $18.62 and a 200-day moving average of $20.55.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 9.3%. This is a boost from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, March 5th. Shutterstock’s dividend payout ratio (DPR) is presently 78.57%.

Hedge Funds Weigh In On Shutterstock

Several institutional investors have recently bought and sold shares of SSTK. WealthCollab LLC boosted its holdings in shares of Shutterstock by 40.7% during the 3rd quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 591 shares during the last quarter. Franklin Resources Inc. boosted its stake in Shutterstock by 8.9% during the third quarter. Franklin Resources Inc. now owns 11,218 shares of the business services provider’s stock valued at $234,000 after buying an additional 919 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Shutterstock by 0.8% during the third quarter. JPMorgan Chase & Co. now owns 116,070 shares of the business services provider’s stock valued at $2,420,000 after buying an additional 953 shares during the last quarter. Osaic Holdings Inc. increased its stake in Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,388 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SSTK. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.