Rice Hall James & Associates LLC Reduces Position in Shutterstock, Inc. $SSTK

Rice Hall James & Associates LLC trimmed its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 9.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 681,731 shares of the business services provider’s stock after selling 68,934 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Shutterstock were worth $14,214,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invenomic Capital Management LP boosted its position in shares of Shutterstock by 47.1% during the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock valued at $16,488,000 after buying an additional 283,532 shares during the period. Alpine Associates Management Inc. boosted its holdings in Shutterstock by 21.9% during the 2nd quarter. Alpine Associates Management Inc. now owns 731,086 shares of the business services provider’s stock valued at $13,861,000 after acquiring an additional 131,131 shares during the period. Millennium Management LLC grew its position in Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after acquiring an additional 327,203 shares during the last quarter. Geode Capital Management LLC increased its stake in Shutterstock by 2.8% in the second quarter. Geode Capital Management LLC now owns 583,118 shares of the business services provider’s stock worth $11,058,000 after purchasing an additional 15,695 shares during the period. Finally, Callodine Capital Management LP purchased a new position in Shutterstock during the 2nd quarter worth $7,835,000. Institutional investors own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SSTK shares. Zacks Research downgraded Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Monday, December 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $18.37 on Friday. The company has a 50 day moving average price of $21.06 and a 200 day moving average price of $20.67. The firm has a market capitalization of $652.40 million, a P/E ratio of 10.93 and a beta of 1.27. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.20. Shutterstock, Inc. has a 52 week low of $14.35 and a 52 week high of $38.80.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The company had revenue of $260.09 million for the quarter, compared to analyst estimates of $255.60 million. During the same quarter in the previous year, the company posted $1.31 EPS. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $1.32 dividend on an annualized basis and a yield of 7.2%. Shutterstock’s payout ratio is currently 78.57%.

Shutterstock Company Profile

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.