Linden Thomas Advisory Services LLC Makes New Investment in Shutterstock, Inc. (NYSE:SSTK)

Linden Thomas Advisory Services LLC bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,182 shares of the business services provider’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Shutterstock by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,894,111 shares of the business services provider’s stock worth $110,121,000 after acquiring an additional 14,197 shares during the period. Copeland Capital Management LLC lifted its stake in Shutterstock by 37.3% in the fourth quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock valued at $67,316,000 after purchasing an additional 378,450 shares during the last quarter. Trigran Investments Inc. grew its holdings in Shutterstock by 171.7% during the third quarter. Trigran Investments Inc. now owns 1,051,458 shares of the business services provider’s stock valued at $40,008,000 after purchasing an additional 664,522 shares during the period. Wellington Management Group LLP increased its position in Shutterstock by 32.9% in the third quarter. Wellington Management Group LLP now owns 944,543 shares of the business services provider’s stock worth $35,940,000 after buying an additional 234,030 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of Shutterstock by 3,416.1% in the third quarter. LSV Asset Management now owns 936,937 shares of the business services provider’s stock valued at $35,650,000 after buying an additional 910,290 shares during the period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley began coverage on Shutterstock in a research note on Thursday, February 22nd. They set an “equal weight” rating and a $55.00 price target for the company. Truist Financial cut their target price on shares of Shutterstock from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 22nd. StockNews.com lowered shares of Shutterstock from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Shutterstock in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.50.

Shutterstock Stock Performance

Shares of SSTK opened at $42.36 on Friday. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 13.98 and a beta of 1.09. Shutterstock, Inc. has a 52-week low of $33.80 and a 52-week high of $67.76. The stock’s 50-day simple moving average is $45.64 and its 200 day simple moving average is $44.93.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $217.22 million for the quarter, compared to the consensus estimate of $224.04 million. Shutterstock had a net margin of 12.61% and a return on equity of 23.04%. On average, research analysts forecast that Shutterstock, Inc. will post 3.13 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.83%. The ex-dividend date is Thursday, May 30th. Shutterstock’s payout ratio is 39.60%.

Insider Activity

In related news, insider John Caine sold 1,974 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $43.30, for a total value of $85,474.20. Following the sale, the insider now owns 7,413 shares in the company, valued at $320,982.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 32.30% of the company’s stock.

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.