413,227 Shares in Shutterstock, Inc. $SSTK Bought by Callodine Capital Management LP

Callodine Capital Management LP bought a new stake in Shutterstock, Inc. (NYSE:SSTK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 413,227 shares of the business services provider’s stock, valued at approximately $7,835,000. Callodine Capital Management LP owned about 1.17% of Shutterstock at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd bought a new position in Shutterstock in the 1st quarter valued at approximately $335,000. Charles Schwab Investment Management Inc. increased its position in Shutterstock by 12.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,906 shares of the business services provider’s stock valued at $7,376,000 after acquiring an additional 44,702 shares during the period. Invesco Ltd. raised its stake in shares of Shutterstock by 25.6% during the first quarter. Invesco Ltd. now owns 127,740 shares of the business services provider’s stock valued at $2,380,000 after acquiring an additional 26,029 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Shutterstock during the first quarter valued at $537,000. Finally, Nuveen LLC acquired a new position in shares of Shutterstock during the first quarter worth $1,587,000. 82.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SSTK. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research lowered Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $19.01 on Friday. The business has a 50-day moving average price of $22.27 and a two-hundred day moving average price of $20.63. Shutterstock, Inc. has a 1-year low of $14.35 and a 1-year high of $38.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20. The company has a market cap of $675.19 million, a P/E ratio of 11.32 and a beta of 1.27.

Shutterstock (NYSE:SSTK) last announced its earnings results on Wednesday, November 5th. The business services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.48). Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The business had revenue of $260.09 million for the quarter, compared to the consensus estimate of $255.60 million. During the same quarter in the previous year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Thursday, December 4th. Shutterstock’s dividend payout ratio is presently 78.57%.

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.