Legato Capital Management LLC Sells 5,703 Shares of Shutterstock, Inc. (NYSE:SSTK)

Legato Capital Management LLC trimmed its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 42.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,803 shares of the business services provider’s stock after selling 5,703 shares during the period. Legato Capital Management LLC’s holdings in Shutterstock were worth $237,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Shutterstock during the 3rd quarter valued at $8,493,000. Rice Hall James & Associates LLC increased its holdings in 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 acquiring an additional 153,154 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Shutterstock by 11,862.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,241 shares of the business services provider’s stock worth $4,041,000 after acquiring an additional 113,286 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Shutterstock in the 3rd quarter worth about $2,018,000. Finally, Barclays PLC increased its holdings in Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after acquiring an additional 35,632 shares during the last quarter. 82.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Needham & Company LLC decreased their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. StockNews.com started coverage on Shutterstock in a report on Tuesday. They set a “hold” rating for the company. Truist Financial reduced their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley reduced their target price on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.33.

Shutterstock Stock Down 2.5 %

SSTK stock opened at $28.71 on Friday. The firm has a market capitalization of $1.00 billion, a PE ratio of 28.15 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $30.50 and a two-hundred day simple moving average of $32.49. Shutterstock, Inc. has a twelve month low of $27.30 and a twelve month high of $54.40.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Shutterstock 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.