4,188 Shares in Shutterstock, Inc. (NYSE:SSTK) Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,188 shares of the business services provider’s stock, valued at approximately $202,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Shutterstock by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 883 shares of the business services provider’s stock worth $43,000 after purchasing an additional 289 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in shares of Shutterstock by 1,165.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,329 shares of the business services provider’s stock worth $51,000 after buying an additional 1,224 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Shutterstock by 317.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,170 shares of the business services provider’s stock worth $56,000 after acquiring an additional 890 shares in the last quarter. Covestor Ltd raised its holdings in shares of Shutterstock by 77.2% during the third quarter. Covestor Ltd now owns 2,327 shares of the business services provider’s stock valued at $88,000 after acquiring an additional 1,014 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Shutterstock by 47.4% during the third quarter. PNC Financial Services Group Inc. now owns 2,965 shares of the business services provider’s stock valued at $113,000 after acquiring an additional 954 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Insider Activity

In related news, insider John Caine sold 1,974 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $43.30, for a total value of $85,474.20. Following the transaction, the insider now owns 7,413 shares in the company, valued at $320,982.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 32.30% of the stock is owned by corporate insiders.

Shutterstock Stock Up 2.2 %

Shares of NYSE:SSTK opened at $42.78 on Wednesday. The firm has a fifty day moving average of $45.89 and a two-hundred day moving average of $44.94. Shutterstock, Inc. has a 12-month low of $33.80 and a 12-month high of $74.20. The firm has a market capitalization of $1.52 billion, a P/E ratio of 14.12 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. The business had revenue of $217.22 million during the quarter, compared to analyst estimates of $224.04 million. Shutterstock had a return on equity of 23.04% and a net margin of 12.61%. Equities research analysts expect that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.81%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, February 28th. Shutterstock’s payout ratio is currently 39.60%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Shutterstock in a research note on Thursday, February 29th. Morgan Stanley started coverage on Shutterstock in a research report on Thursday, February 22nd. They issued an “equal weight” rating and a $55.00 target price for the company. StockNews.com lowered Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Truist Financial decreased their price objective on Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

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.