Shutterstock, Inc. (NYSE:SSTK) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Shutterstock, Inc. (NYSE:SSTK) have received an average rating of “Hold” from the five research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $25.00.

SSTK has been the subject of a number of research analyst reports. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Monday, December 1st.

Shutterstock Stock Up 5.4%

Shares of NYSE SSTK opened at $18.99 on Thursday. The company has a market capitalization of $674.45 million, a P/E ratio of 11.30 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.53. The company has a 50 day simple moving average of $19.29 and a 200-day simple moving average of $20.68. Shutterstock has a 1 year low of $14.35 and a 1 year high of $32.20.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.48). The business had revenue of $260.09 million during the quarter, compared to analysts’ expectations of $255.60 million. Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Shutterstock will post 3.12 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.0%. Shutterstock’s payout ratio is presently 78.57%.

Hedge Funds Weigh In On Shutterstock

Hedge funds and other institutional investors have recently bought and sold shares of the company. Callodine Capital Management LP purchased a new stake in Shutterstock during the 2nd quarter worth approximately $7,835,000. Millennium Management LLC increased its position in shares of Shutterstock by 109.3% during the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after acquiring an additional 327,203 shares during the period. UBS Group AG raised its stake in shares of Shutterstock by 72.7% in the third quarter. UBS Group AG now owns 547,241 shares of the business services provider’s stock valued at $11,410,000 after acquiring an additional 230,413 shares in the last quarter. Alpine Associates Management Inc. boosted its holdings in Shutterstock by 23.4% in the third quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock valued at $18,816,000 after purchasing an additional 171,375 shares during the period. Finally, Bank of America Corp DE grew its stake in Shutterstock by 117.2% during the 2nd quarter. Bank of America Corp DE now owns 284,559 shares of the business services provider’s stock worth $5,395,000 after purchasing an additional 153,575 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.