Verity Asset Management Inc. Boosts Position in Shutterstock, Inc. (NYSE:SSTK)

Verity Asset Management Inc. lifted its stake in Shutterstock, Inc. (NYSE:SSTK) by 140.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,401 shares of the business services provider’s stock after buying an additional 8,411 shares during the quarter. Verity Asset Management Inc.’s holdings in Shutterstock were worth $509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SSTK. Olympiad Research LP purchased a new position in Shutterstock during the third quarter valued at $430,000. Harbor Capital Advisors Inc. increased its position in Shutterstock by 110.7% during the third quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after acquiring an additional 18,174 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Shutterstock by 97.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock worth $939,000 after purchasing an additional 13,088 shares during the period. Rice Hall James & Associates LLC lifted its stake in shares of Shutterstock by 40.7% during 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 acquiring an additional 153,154 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Shutterstock in the 3rd quarter worth about $2,018,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

SSTK has been the subject of a number of research analyst reports. Truist Financial decreased 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. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a report on Tuesday, October 29th. Morgan Stanley cut their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com cut Shutterstock from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Shutterstock Stock Down 1.0 %

Shutterstock stock opened at $34.21 on Friday. The business has a fifty day moving average price of $32.91 and a 200-day moving average price of $36.90. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a 1-year low of $28.95 and a 1-year high of $54.40. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 33.54 and a beta of 1.10.

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

Shutterstock Dividend Announcement

The firm also recently disclosed 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 is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.51%. Shutterstock’s payout ratio is currently 117.65%.

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.