Hussman Strategic Advisors Inc. Purchases 21,000 Shares of Shutterstock, Inc. (NYSE:SSTK)

Hussman Strategic Advisors Inc. grew its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,000 shares of the business services provider’s stock after buying an additional 21,000 shares during the period. Hussman Strategic Advisors Inc. owned 0.18% of Shutterstock worth $1,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Shutterstock during the third quarter worth about $31,000. R Squared Ltd bought a new position in shares of Shutterstock during the fourth quarter valued at approximately $108,000. Palouse Capital Management Inc. raised its holdings in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 525 shares in the last quarter. Covestor Ltd raised its holdings 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 valued at $162,000 after acquiring an additional 397 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in shares of Shutterstock during the third quarter valued at approximately $284,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Trading Down 3.7 %

Shares of NYSE:SSTK opened at $26.91 on Thursday. The stock’s 50-day simple moving average is $30.22 and its two-hundred day simple moving average is $32.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock, Inc. has a 52-week low of $26.64 and a 52-week high of $54.40. The stock has a market capitalization of $938.05 million, a price-to-earnings ratio of 26.38 and a beta of 1.08.

Shutterstock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 4.91%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial decreased 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. StockNews.com initiated coverage on Shutterstock in a report on Wednesday. They issued a “hold” rating for 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. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock has an average rating of “Hold” and a consensus price target of $50.33.

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.