Shutterstock (NYSE:SSTK) Trading 6.8% Higher – Should You Buy?

Shutterstock, Inc. (NYSE:SSTK)’s share price was up 6.8% during trading on Tuesday . The company traded as high as $17.46 and last traded at $17.35. Approximately 59,483 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 326,816 shares. The stock had previously closed at $16.24.

Wall Street Analysts Forecast Growth

SSTK has been the topic of several research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

Shutterstock Stock Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day moving average price is $17.72 and its 200 day moving average price is $19.93. The company has a market cap of $593.76 million, a PE ratio of 12.95 and a beta of 1.23.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Tuesday, February 17th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38). Shutterstock had a return on equity of 16.13% and a net margin of 4.60%.The firm had revenue of $220.22 million during the quarter, compared to the consensus estimate of $252.28 million. During the same period in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. On average, equities research analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.6%. Shutterstock’s dividend payout ratio (DPR) is 111.63%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. LSV Asset Management raised its stake in shares of Shutterstock by 1.1% during the 3rd quarter. LSV Asset Management now owns 1,601,253 shares of the business services provider’s stock worth $33,386,000 after purchasing an additional 16,700 shares during the period. Callodine Capital Management LP boosted its stake in Shutterstock by 34.5% in the fourth quarter. Callodine Capital Management LP now owns 1,033,963 shares of the business services provider’s stock valued at $19,749,000 after acquiring an additional 265,258 shares during the last quarter. State Street Corp grew its position in shares of Shutterstock by 2.2% during the 4th quarter. State Street Corp now owns 966,891 shares of the business services provider’s stock valued at $18,468,000 after acquiring an additional 20,961 shares during the period. Alpine Associates Management Inc. increased its stake in shares of Shutterstock by 23.4% during the 3rd quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock worth $18,816,000 after purchasing an additional 171,375 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in Shutterstock by 229.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 804,655 shares of the business services provider’s stock valued at $15,369,000 after purchasing an additional 560,617 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

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.