Shutterstock (NYSE:SSTK) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Shutterstock (NYSE:SSTK) in a report issued on Monday morning,Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC cut their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. StockNews.com began coverage on shares of Shutterstock in a research report on Tuesday, April 8th. They set a “hold” rating for the company. Finally, Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Stock Performance

NYSE SSTK opened at $17.53 on Monday. Shutterstock has a 52-week low of $14.35 and a 52-week high of $46.10. The company has a fifty day moving average of $17.83 and a 200-day moving average of $26.06. The company has a market capitalization of $611.69 million, a P/E ratio of 17.19 and a beta of 1.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data on Friday, May 2nd. The business services provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). The firm had revenue of $242.62 million during the quarter, compared to analysts’ expectations of $249.44 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, equities research analysts predict that Shutterstock will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.53%. The ex-dividend date is Thursday, June 5th. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Institutional Trading of Shutterstock

Several large investors have recently modified their holdings of SSTK. Amundi lifted its holdings in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares during the period. Covestor Ltd lifted its stake in Shutterstock by 11.3% in the fourth quarter. Covestor Ltd now owns 5,092 shares of the business services provider’s stock worth $155,000 after acquiring an additional 515 shares during the period. Palouse Capital Management Inc. lifted its stake in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Shutterstock by 1.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 35,120 shares of the business services provider’s stock valued at $1,066,000 after acquiring an additional 532 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its position in Shutterstock by 5.4% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,701 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 548 shares during the period. 82.79% of the stock is owned by institutional investors.

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.