Shutterstock, Inc. (NYSE:SSTK) Shares Sold by Crestline Management LP

Crestline Management LP decreased its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 50.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,801 shares of the business services provider’s stock after selling 6,858 shares during the quarter. Crestline Management LP’s holdings in Shutterstock were worth $206,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Amundi lifted its holdings in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after purchasing an additional 488 shares during the period. PNC Financial Services Group Inc. lifted its holdings in 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 purchasing an additional 1,565 shares during the period. R Squared Ltd acquired a new stake in Shutterstock in the fourth quarter worth about $108,000. Palouse Capital Management Inc. lifted its holdings in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Shutterstock in the fourth quarter worth about $134,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $18.69 on Monday. Shutterstock, Inc. has a twelve month low of $14.35 and a twelve month high of $46.10. 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 company has a market capitalization of $658.90 million, a price-to-earnings ratio of 18.32 and a beta of 1.10. The firm has a 50-day moving average of $17.58 and a two-hundred day moving average of $25.74.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $242.62 million during the quarter, compared to analyst estimates of $249.44 million. During the same period in the previous year, the company posted $1.13 earnings per share. Shutterstock’s revenue was up 13.2% compared to the same quarter last year. As a group, analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend is Thursday, June 5th. Shutterstock’s payout ratio is 121.10%.

Analyst Ratings Changes

SSTK has been the subject of several research analyst reports. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Needham & Company LLC reduced their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $45.33.

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.