Shutterstock, Inc. (NYSE:SSTK) Given Consensus Rating of “Hold” by Brokerages

Shares of Shutterstock, Inc. (NYSE:SSTK) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.00.

SSTK has been the subject of a number of research reports. Wall Street Zen cut shares of 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, January 21st. Finally, Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th.

Institutional Trading of Shutterstock

Hedge funds have recently made changes to their positions in the company. Byrne Asset Management LLC increased its stake in shares of Shutterstock by 10.7% during the third quarter. Byrne Asset Management LLC now owns 4,272 shares of the business services provider’s stock worth $89,000 after acquiring an additional 412 shares during the period. WealthCollab LLC increased its position in Shutterstock by 40.7% during the 3rd quarter. WealthCollab LLC now owns 2,043 shares of the business services provider’s stock worth $43,000 after purchasing an additional 591 shares during the period. New York State Teachers Retirement System raised its stake in shares of Shutterstock by 4.7% during the 4th quarter. New York State Teachers Retirement System now owns 13,437 shares of the business services provider’s stock worth $257,000 after buying an additional 601 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Shutterstock by 5.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,852 shares of the business services provider’s stock worth $268,000 after buying an additional 628 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Shutterstock by 0.6% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 113,450 shares of the business services provider’s stock valued at $2,365,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Down 1.3%

SSTK stock opened at $17.28 on Monday. The company has a fifty day moving average price of $18.79 and a 200 day moving average price of $20.62. Shutterstock has a 12 month low of $14.35 and a 12 month high of $29.96. The company has a market cap of $613.64 million, a price-to-earnings ratio of 10.28 and a beta of 1.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.53.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be given a $0.36 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, March 5th. This represents a $1.44 dividend on an annualized basis and a yield of 8.3%. Shutterstock’s payout ratio is 78.57%.

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.