Shutterstock (NYSE:SSTK) Given “Market Perform” Rating at JMP Securities

JMP Securities restated their market perform rating on shares of Shutterstock (NYSE:SSTK) in a research report report published on Monday,Benzinga reports.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. StockNews.com raised Shutterstock from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th. Truist Financial cut their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.67.

Shutterstock Stock Performance

NYSE:SSTK opened at $30.48 on Monday. The stock has a 50-day simple moving average of $31.57 and a two-hundred day simple moving average of $34.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock has a 52-week low of $28.64 and a 52-week high of $54.40. The firm has a market capitalization of $1.06 billion, a PE ratio of 29.88 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.59 million during the quarter, compared to the consensus estimate of $240.90 million. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Analysts forecast that Shutterstock will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. Shutterstock’s payout ratio is 117.65%.

Institutional Investors Weigh In On Shutterstock

A number of hedge funds have recently made changes to their positions in the company. Epoch Investment Partners Inc. grew its holdings in Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after buying an additional 201,391 shares in the last quarter. State Street Corp boosted its position in shares of Shutterstock by 1.4% during the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after acquiring an additional 13,039 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Shutterstock by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock valued at $33,648,000 after purchasing an additional 34,243 shares in the last quarter. Geode Capital Management LLC increased its position in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after purchasing an additional 25,050 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Shutterstock by 40.7% during the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after purchasing an additional 153,154 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.