Union Square Park Capital Management LLC Takes Position in Shutterstock, Inc. $SSTK

Union Square Park Capital Management LLC purchased a new stake in Shutterstock, Inc. (NYSE:SSTK) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 110,000 shares of the business services provider’s stock, valued at approximately $2,101,000. Shutterstock makes up 1.0% of Union Square Park Capital Management LLC’s holdings, making the stock its 21st largest holding. Union Square Park Capital Management LLC owned 0.31% of Shutterstock at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SSTK. WealthCollab LLC boosted its holdings in shares of Shutterstock by 106.3% in the 2nd quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock valued at $28,000 after buying an additional 748 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Shutterstock by 72.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock valued at $63,000 after buying an additional 1,388 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Shutterstock by 87.7% in the 4th quarter. Covestor Ltd now owns 5,538 shares of the business services provider’s stock valued at $106,000 after buying an additional 2,587 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in shares of Shutterstock in the 3rd quarter valued at about $111,000. 82.79% of the stock is currently owned by institutional investors.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $13.61 on Wednesday. The firm has a market capitalization of $499.85 million, a P/E ratio of -23.46 and a beta of 1.07. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $16.02 and a 200 day moving average price of $17.29. Shutterstock, Inc. has a 52 week low of $12.78 and a 52 week high of $29.50.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.44 dividend on an annualized basis and a yield of 10.6%. Shutterstock’s dividend payout ratio (DPR) is currently -248.28%.

Wall Street Analyst Weigh In

SSTK has been the subject of several research analyst reports. Wall Street Zen lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. Citigroup raised shares of Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Weiss Ratings lowered shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Shutterstock currently has a consensus rating of “Reduce” and an average target price of $7.00.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.