State of Alaska Department of Revenue Has $273,000 Holdings in Shutterstock, Inc. $SSTK

State of Alaska Department of Revenue increased its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,475 shares of the business services provider’s stock after acquiring an additional 1,158 shares during the period. State of Alaska Department of Revenue’s holdings in Shutterstock were worth $273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position 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 buying an additional 682 shares in the last quarter. Janney Montgomery Scott LLC boosted its position 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 buying an additional 48,382 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 buying an additional 13,767 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Shutterstock in the first quarter valued at approximately $633,000. Finally, GAMMA Investing LLC boosted its position in Shutterstock by 25,981.9% in the first quarter. GAMMA Investing LLC now owns 21,648 shares of the business services provider’s stock valued at $403,000 after buying an additional 21,565 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

SSTK stock opened at $21.40 on Friday. The firm has a market cap of $759.06 million, a price-to-earnings ratio of 11.82 and a beta of 1.09. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.20. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $38.80. The company’s fifty day simple moving average is $21.06 and its 200 day simple moving average is $19.08.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.46). The company 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 company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. On average, analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Thursday, September 4th. Shutterstock’s payout ratio is presently 72.93%.

Analyst Ratings Changes

SSTK has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.