Hsbc Holdings PLC Increases Stock Holdings in Shutterstock, Inc. $SSTK

Hsbc Holdings PLC boosted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 113.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,267 shares of the business services provider’s stock after purchasing an additional 10,228 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of Shutterstock worth $347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantbot Technologies LP increased its holdings in Shutterstock by 94.8% during the 1st quarter. Quantbot Technologies LP now owns 48,253 shares of the business services provider’s stock worth $899,000 after purchasing an additional 23,479 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Shutterstock by 27.0% during the 1st quarter. Public Sector Pension Investment Board now owns 76,188 shares of the business services provider’s stock worth $1,419,000 after purchasing an additional 16,209 shares during the last quarter. Nuveen LLC purchased a new stake in Shutterstock during the 1st quarter worth approximately $1,587,000. Virtu Financial LLC purchased a new stake in Shutterstock during the 1st quarter worth approximately $537,000. Finally, Invesco Ltd. increased its holdings in Shutterstock by 25.6% during the 1st quarter. Invesco Ltd. now owns 127,740 shares of the business services provider’s stock worth $2,380,000 after purchasing an additional 26,029 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SSTK. Needham & Company LLC dropped their price objective on Shutterstock from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Wall Street Zen upgraded Shutterstock from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.67.

Shutterstock Price Performance

Shares of SSTK opened at $20.97 on Thursday. The firm has a market cap of $743.77 million, a price-to-earnings ratio of 11.59 and a beta of 1.05. The stock has a 50 day moving average of $20.07 and a 200-day moving average of $19.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.20. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $38.80.

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

Shutterstock Dividend Announcement

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

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.