Shutterstock, Inc. (NYSE:SSTK) Receives Consensus Recommendation of “Hold” from Analysts

Shutterstock, Inc. (NYSE:SSTK) has earned an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $43.6667.

A number of brokerages have commented on SSTK. Wall Street Zen upgraded Shutterstock from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Saturday, September 27th.

Hedge Funds Weigh In On Shutterstock

A number of institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Shutterstock by 11.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider’s stock worth $201,000 after buying an additional 682 shares in the last quarter. WealthCollab LLC lifted its stake in shares of Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after acquiring an additional 748 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Shutterstock by 71.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 834 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Shutterstock by 4.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 22,243 shares of the business services provider’s stock valued at $422,000 after purchasing an additional 861 shares in the last quarter. Finally, CWM LLC raised its position 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 valued at $34,000 after purchasing an additional 876 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Down 4.2%

Shares of SSTK stock opened at $21.58 on Friday. The firm has a market cap of $765.44 million, a P/E ratio of 11.92 and a beta of 1.09. The firm’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $19.03. Shutterstock has a 1-year low of $14.35 and a 1-year high of $38.80. 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 released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.46). Shutterstock had a return on equity of 18.42% and a net margin of 6.36%.The firm had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. During the same quarter in the previous year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Thursday, September 4th. Shutterstock’s dividend payout ratio (DPR) is presently 72.93%.

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.