74,777 Shares in Shutterstock, Inc. (NYSE:SSTK) Purchased by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC bought a new stake in Shutterstock, Inc. (NYSE:SSTK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 74,777 shares of the business services provider’s stock, valued at approximately $2,269,000. Shutterstock accounts for approximately 2.0% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 18th largest position. Villanova Investment Management Co LLC owned about 0.21% of Shutterstock as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Amundi increased its stake in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after buying an additional 488 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Shutterstock by 167.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,565 shares during the last quarter. R Squared Ltd acquired a new position in shares of Shutterstock in the fourth quarter worth $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 worth $132,000 after acquiring an additional 525 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Shutterstock during the fourth quarter valued at $134,000. 82.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SSTK has been the subject of a number of recent research reports. Needham & Company LLC cut their price target on 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 reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, StockNews.com began coverage on shares of Shutterstock in a report on Monday. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Price Performance

Shares of Shutterstock stock opened at $18.75 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a fifty day simple moving average of $24.55 and a 200-day simple moving average of $29.24. The stock has a market capitalization of $654.09 million, a price-to-earnings ratio of 18.38 and a beta of 1.12. Shutterstock, Inc. has a 1-year low of $17.17 and a 1-year high of $46.46.

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

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.04%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 6th. Shutterstock’s dividend payout ratio 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.