XTX Topco Ltd Boosts Stake in Shutterstock, Inc. (NYSE:SSTK)

XTX Topco Ltd raised its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 25.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,373 shares of the business services provider’s stock after buying an additional 1,683 shares during the quarter. XTX Topco Ltd’s holdings in Shutterstock were worth $324,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SSTK. Palouse Capital Management Inc. raised its position in Shutterstock by 20.7% during the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 665 shares during the period. Tieton Capital Management LLC bought a new position in shares of Shutterstock during the 2nd quarter valued at approximately $5,320,000. Dimensional Fund Advisors LP raised its holdings in Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock valued at $33,648,000 after buying an additional 34,243 shares during the period. Envestnet Asset Management Inc. lifted its position in Shutterstock by 13.9% in the second quarter. Envestnet Asset Management Inc. now owns 184,300 shares of the business services provider’s stock worth $7,132,000 after buying an additional 22,459 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Shutterstock by 95.4% in the second quarter. Federated Hermes Inc. now owns 138,719 shares of the business services provider’s stock worth $5,368,000 after buying an additional 67,718 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Price Performance

Shares of SSTK opened at $35.45 on Friday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 13.74 and a beta of 1.09. The company has a 50-day moving average of $36.57 and a 200 day moving average of $39.68. Shutterstock, Inc. has a 1-year low of $32.38 and a 1-year high of $54.40.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The firm had revenue of $220.05 million during the quarter, compared to analysts’ expectations of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, equities analysts anticipate that Shutterstock, Inc. will post 3.22 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, August 29th. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SSTK. Morgan Stanley boosted their price objective on shares of Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Shutterstock in a research report on Tuesday, August 6th.

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.