Tieton Capital Management LLC Acquires 26,220 Shares of Shutterstock, Inc. (NYSE:SSTK)

Tieton Capital Management LLC boosted its holdings in Shutterstock, Inc. (NYSE:SSTK) by 19.1% during the third quarter, HoldingsChannel.com reports. The fund owned 163,675 shares of the business services provider’s stock after purchasing an additional 26,220 shares during the period. Shutterstock accounts for 3.0% of Tieton Capital Management LLC’s portfolio, making the stock its 15th largest holding. Tieton Capital Management LLC’s holdings in Shutterstock were worth $5,789,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sei Investments Co. raised its holdings in shares of Shutterstock by 14.5% in the 1st quarter. Sei Investments Co. now owns 44,214 shares of the business services provider’s stock worth $2,025,000 after buying an additional 5,605 shares in the last quarter. ProShare Advisors LLC raised its stake in Shutterstock by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock worth $227,000 after acquiring an additional 342 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Shutterstock by 41.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 10,067 shares of the business services provider’s stock valued at $461,000 after acquiring an additional 2,965 shares during the period. Vanguard Group Inc. grew its holdings in shares of Shutterstock by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock worth $134,048,000 after purchasing an additional 47,929 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Shutterstock by 7.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 20,438 shares of the business services provider’s stock worth $936,000 after purchasing an additional 1,485 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SSTK. Morgan Stanley decreased their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. StockNews.com cut Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th.

Shutterstock Stock Up 3.1 %

Shares of SSTK opened at $30.98 on Friday. The business’s fifty day moving average price is $32.27 and its two-hundred day moving average price is $36.13. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 30.37 and a beta of 1.10. Shutterstock, Inc. has a 52 week low of $28.85 and a 52 week high of $54.40. 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 (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. During the same period last year, the company earned $0.99 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 3.87%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

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.