AXQ Capital LP Invests $214,000 in Shutterstock, Inc. (NYSE:SSTK)

AXQ Capital LP bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 7,060 shares of the business services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its position in Shutterstock by 1.4% in the third quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after purchasing an additional 13,039 shares during the period. Royce & Associates LP raised its holdings in shares of Shutterstock by 18.1% during 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 period. Geode Capital Management LLC lifted its position in Shutterstock by 4.6% during 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 in the last quarter. Rice Hall James & Associates LLC boosted its holdings in 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. grew its position in Shutterstock by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider’s stock valued at $10,659,000 after acquiring an additional 30,309 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analysts Set New Price Targets

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

Shutterstock Price Performance

SSTK opened at $19.67 on Tuesday. 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 1-year low of $18.63 and a 1-year high of $47.89. The company has a 50-day moving average of $25.78 and a 200-day moving average of $29.77. The company has a market capitalization of $686.36 million, a P/E ratio of 19.28 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.25). The firm had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Equities analysts expect 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 issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is currently 130.69%.

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.