Shutterstock, Inc. (NYSE:SSTK) Stake Boosted by Palouse Capital Management Inc.

Palouse Capital Management Inc. grew its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,357 shares of the business services provider’s stock after purchasing an additional 525 shares during the quarter. Palouse Capital Management Inc.’s holdings in Shutterstock were worth $132,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Shutterstock during the third quarter valued at approximately $31,000. R Squared Ltd acquired a new position in shares of Shutterstock during the fourth quarter worth approximately $108,000. Covestor Ltd boosted its position in shares of Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after buying an additional 397 shares during the period. Moors & Cabot Inc. acquired a new position in shares of Shutterstock during the third quarter worth approximately $284,000. Finally, National Bank of Canada FI boosted its position in shares of Shutterstock by 74.0% during the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider’s stock worth $338,000 after buying an additional 4,061 shares during the period. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com assumed coverage on Shutterstock in a research report on Tuesday, February 11th. They set a “hold” rating for the company. Morgan Stanley reduced their price objective 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 reduced their price objective 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, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Shutterstock has a consensus rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 2.5 %

NYSE SSTK opened at $28.71 on Friday. Shutterstock, Inc. has a 1-year low of $27.30 and a 1-year high of $54.40. 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 company has a market capitalization of $1.00 billion, a PE ratio of 28.15 and a beta of 1.08. The firm’s fifty day simple moving average is $30.50 and its 200-day simple moving average is $32.41.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.60%. Shutterstock’s dividend payout ratio is currently 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.