BNP Paribas Financial Markets Increases Stock Position in Shutterstock, Inc. (NYSE:SSTK)

BNP Paribas Financial Markets grew its holdings in Shutterstock, Inc. (NYSE:SSTK) by 317.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,928 shares of the business services provider’s stock after purchasing an additional 40,264 shares during the quarter. BNP Paribas Financial Markets owned 0.15% of Shutterstock worth $1,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Amundi boosted its stake in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,565 shares during the period. R Squared Ltd purchased a new position in shares of Shutterstock in the fourth quarter valued at approximately $108,000. Palouse Capital Management Inc. boosted its stake in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Shutterstock in the fourth quarter valued at approximately $134,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Down 1.3%

Shares of NYSE:SSTK opened at $18.65 on Monday. The firm’s 50 day moving average price is $17.46 and its 200 day moving average price is $25.31. The stock has a market cap of $657.49 million, a price-to-earnings ratio of 18.28 and a beta of 1.10. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $46.10. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23.

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

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 7.08%. Shutterstock’s payout ratio is currently 121.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SSTK shares. Needham & Company LLC lowered 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. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. StockNews.com assumed coverage on shares of Shutterstock in a report on Tuesday, May 13th. They issued a “buy” rating on the stock. Finally, Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Shutterstock has an average rating of “Hold” and a consensus target price of $45.33.

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.