882 Shares in Shutterstock, Inc. (NYSE:SSTK) Purchased by Truvestments Capital LLC

Truvestments Capital LLC purchased a new stake in Shutterstock, Inc. (NYSE:SSTK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 882 shares of the business services provider’s stock, valued at approximately $31,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Shutterstock by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock worth $134,048,000 after acquiring an additional 47,929 shares in the last quarter. TD Asset Management Inc grew its position in Shutterstock by 13.7% in the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after purchasing an additional 215,539 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in Shutterstock by 22.8% in 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock worth $33,648,000 after buying an additional 34,243 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in shares of Shutterstock by 40.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after buying an additional 153,154 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Morgan Stanley decreased their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Truist Financial cut their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $31.77 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $31.94 and a two-hundred day simple moving average of $35.85. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 31.15 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 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 firm had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.78%. Shutterstock’s payout ratio is 117.65%.

About Shutterstock

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.