Quantbot Technologies LP Has $752,000 Holdings in Shutterstock, Inc. (NYSE:SSTK)

Quantbot Technologies LP trimmed its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,774 shares of the business services provider’s stock after selling 5,062 shares during the period. Quantbot Technologies LP owned approximately 0.07% of Shutterstock worth $752,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings 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 worth $34,192,000 after acquiring an additional 13,039 shares during the period. Royce & Associates LP raised its position in Shutterstock by 18.1% during the fourth quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after purchasing an additional 127,399 shares in the last quarter. Geode Capital Management LLC lifted its stake in Shutterstock by 4.6% during 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. Rice Hall James & Associates LLC boosted its holdings in shares of Shutterstock by 3.4% in the 4th quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock valued at $16,617,000 after purchasing an additional 18,133 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Shutterstock by 9.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider’s stock valued at $10,659,000 after purchasing an additional 30,309 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SSTK. StockNews.com initiated coverage on Shutterstock in a research report on Sunday. They set a “hold” rating for the company. Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Stock Performance

Shutterstock stock opened at $18.54 on Thursday. The business has a 50 day moving average of $25.32 and a 200-day moving average of $29.58. The company has a market capitalization of $646.83 million, a P/E ratio of 18.17 and a beta of 1.12. Shutterstock, Inc. has a 1 year low of $18.36 and a 1 year high of $47.20. 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 (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.33 per share. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 7.12%. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is currently 130.69%.

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.