Russell Investments Group Ltd. Has $283,000 Holdings in Shutterstock, Inc. $SSTK

Russell Investments Group Ltd. trimmed its holdings in Shutterstock, Inc. (NYSE:SSTK) by 89.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,206 shares of the business services provider’s stock after selling 126,899 shares during the period. Russell Investments Group Ltd.’s holdings in Shutterstock were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Shutterstock by 11.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider’s stock valued at $201,000 after acquiring an additional 682 shares during the period. Janney Montgomery Scott LLC grew its stake in Shutterstock by 159.8% in the first quarter. Janney Montgomery Scott LLC now owns 78,652 shares of the business services provider’s stock valued at $1,465,000 after acquiring an additional 48,382 shares during the period. Victory Capital Management Inc. grew its stake in Shutterstock by 33.3% in the first quarter. Victory Capital Management Inc. now owns 55,137 shares of the business services provider’s stock valued at $1,027,000 after acquiring an additional 13,767 shares during the period. Millennium Management LLC grew its stake in Shutterstock by 77.6% in the fourth quarter. Millennium Management LLC now owns 299,412 shares of the business services provider’s stock valued at $9,087,000 after acquiring an additional 130,831 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Shutterstock in the first quarter valued at about $633,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SSTK shares. Wall Street Zen raised Shutterstock from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Finally, Needham & Company LLC cut their price target on Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.67.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $20.93 on Tuesday. The firm has a market cap of $742.25 million, a price-to-earnings ratio of 11.56 and a beta of 1.05. The stock’s 50-day moving average is $20.00 and its 200-day moving average is $19.16. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $38.80. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.49 and a quick ratio of 0.49.

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

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.3%. The ex-dividend date is Thursday, September 4th. Shutterstock’s dividend payout ratio is presently 72.93%.

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.