Shutterstock, Inc. (NYSE:SSTK) Short Interest Down 19.3% in December

Shutterstock, Inc. (NYSE:SSTK) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 1,148,415 shares, a decline of 19.3% from the December 15th total of 1,422,927 shares. Approximately 4.8% of the company’s shares are short sold. Based on an average daily trading volume, of 271,781 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily trading volume, of 271,781 shares, the days-to-cover ratio is presently 4.2 days. Approximately 4.8% of the company’s shares are short sold.

Shutterstock Trading Down 1.5%

Shares of SSTK stock traded down $0.27 during trading hours on Tuesday, hitting $18.13. 99,536 shares of the company were exchanged, compared to its average volume of 162,868. The company has a 50 day simple moving average of $19.44 and a two-hundred day simple moving average of $20.70. The firm has a market cap of $643.98 million, a P/E ratio of 10.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. Shutterstock has a fifty-two week low of $14.35 and a fifty-two week high of $32.20.

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

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Thursday, December 4th. Shutterstock’s dividend payout ratio is currently 78.57%.

Hedge Funds Weigh In On Shutterstock

Several hedge funds have recently modified their holdings of the company. WealthCollab LLC boosted its position in Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. Signaturefd LLC lifted its position in shares of Shutterstock by 10,268.8% during the second quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,643 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the period. EMC Capital Management bought a new position in Shutterstock in the 2nd quarter valued at $36,000. Finally, GAMMA Investing LLC grew its position in Shutterstock by 71.8% during the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock worth $38,000 after buying an additional 834 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.