Alpine Associates Management Inc. Increases Stock Holdings in Shutterstock, Inc. $SSTK

Alpine Associates Management Inc. lifted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,461 shares of the business services provider’s stock after purchasing an additional 171,375 shares during the quarter. Shutterstock comprises approximately 1.1% of Alpine Associates Management Inc.’s portfolio, making the stock its 23rd biggest position. Alpine Associates Management Inc. owned about 2.54% of Shutterstock worth $18,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. WealthCollab LLC raised its position in Shutterstock by 106.3% during the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after buying an additional 748 shares during the last quarter. Osaic Holdings Inc. raised its holdings in Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares in the last quarter. EMC Capital Management acquired a new stake in Shutterstock in the second quarter valued at about $36,000. Covestor Ltd lifted its position in Shutterstock by 31.5% in the third quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 707 shares during the period. Finally, Equitec Proprietary Markets LLC purchased a new stake in Shutterstock in the 2nd quarter valued at approximately $57,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Stock Performance

NYSE SSTK opened at $17.79 on Thursday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.20. Shutterstock, Inc. has a fifty-two week low of $14.35 and a fifty-two week high of $29.96. The business has a fifty day moving average of $18.86 and a 200-day moving average of $20.65. The stock has a market cap of $631.90 million, a price-to-earnings ratio of 10.59 and a beta of 1.26.

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 paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 8.1%. Shutterstock’s payout ratio is currently 78.57%.

Shutterstock Company Profile

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.