Shutterstock, Inc. (NYSE:SSTK) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 33.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,137 shares of the business services provider’s stock after purchasing an additional 13,767 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Shutterstock worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Shutterstock during the 4th quarter valued at approximately $1,400,000. American Century Companies Inc. boosted its holdings in shares of Shutterstock by 11.6% in the 4th quarter. American Century Companies Inc. now owns 48,086 shares of the business services provider’s stock valued at $1,459,000 after buying an additional 4,984 shares during the period. Sei Investments Co. lifted its holdings in Shutterstock by 6.2% in the fourth quarter. Sei Investments Co. now owns 58,977 shares of the business services provider’s stock worth $1,791,000 after acquiring an additional 3,439 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Shutterstock during the fourth quarter valued at approximately $134,000. Finally, LPL Financial LLC raised its position in shares of Shutterstock by 18.1% during the 4th quarter. LPL Financial LLC now owns 11,562 shares of the business services provider’s stock worth $351,000 after purchasing an additional 1,772 shares during the period. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Stock Down 2.7%

Shutterstock stock opened at $19.18 on Friday. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $46.10. The stock has a market cap of $680.14 million, a price-to-earnings ratio of 10.59 and a beta of 1.15. The company’s 50-day moving average price is $18.87 and its two-hundred day moving average price is $20.78. The company has a current ratio of 0.49, a quick ratio of 0.43 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.46). Shutterstock had a net margin of 6.36% and a return on equity of 18.42%. The firm had revenue of $266.99 million for the quarter, compared to analyst estimates of $248.27 million. During the same quarter last year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.32 annualized dividend and a dividend yield of 6.9%. Shutterstock’s payout ratio is currently 121.10%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SSTK. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Needham & Company LLC dropped their price objective on shares of Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Shutterstock to a “hold” rating in a research report on Saturday, June 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Shutterstock currently has an average rating of “Hold” and a consensus price target of $43.67.

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.