Tieton Capital Management LLC Has $8.61 Million Stock Position in Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC raised its holdings in Shutterstock, Inc. (NYSE:SSTK) by 73.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 283,700 shares of the business services provider’s stock after buying an additional 120,025 shares during the quarter. Shutterstock accounts for about 3.5% of Tieton Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Tieton Capital Management LLC owned about 0.81% of Shutterstock worth $8,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after buying an additional 13,039 shares during the last quarter. Royce & Associates LP grew its holdings in Shutterstock by 18.1% in the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock valued at $25,240,000 after buying an additional 127,399 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Shutterstock by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after acquiring an additional 25,050 shares during the period. Rice Hall James & Associates LLC lifted its position 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 worth $16,617,000 after acquiring an additional 18,133 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $10,659,000 after acquiring an additional 30,309 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

Shutterstock stock opened at $19.55 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market capitalization of $682.18 million, a PE ratio of 19.17 and a beta of 1.12. Shutterstock, Inc. has a one year low of $18.63 and a one year high of $47.89. The business has a 50 day simple moving average of $25.96 and a 200 day simple moving average of $29.87.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). The company had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 EPS. On average, sell-side analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a $0.33 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 6.75%. Shutterstock’s payout ratio is presently 130.69%.

Wall Street Analyst Weigh In

SSTK has been the subject of a number of research reports. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC reduced their price objective on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. StockNews.com initiated coverage on Shutterstock in a research report on Sunday. They issued a “hold” rating for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Shutterstock has an average rating of “Hold” and a consensus target price of $45.33.

Shutterstock Company 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.