Shutterstock, Inc. (NYSE:SSTK) Short Interest Down 42.7% in April

Shutterstock, Inc. (NYSE:SSTK) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 1,025,874 shares, a decrease of 42.7% from the April 15th total of 1,790,012 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 243,018 shares, the short-interest ratio is presently 4.2 days.

Hedge Funds Weigh In On Shutterstock

Several institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Associates Management Inc. boosted its position in Shutterstock by 23.4% during the 3rd quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock valued at $18,816,000 after buying an additional 171,375 shares during the period. Callodine Capital Management LP boosted its position in Shutterstock by 86.0% during the 3rd quarter. Callodine Capital Management LP now owns 768,705 shares of the business services provider’s stock valued at $16,027,000 after buying an additional 355,478 shares during the period. Unison Advisors LLC purchased a new stake in Shutterstock during the 4th quarter valued at $730,000. Principal Financial Group Inc. boosted its position in Shutterstock by 8.9% during the 3rd quarter. Principal Financial Group Inc. now owns 131,322 shares of the business services provider’s stock valued at $2,738,000 after buying an additional 10,735 shares during the period. Finally, Savant Capital LLC boosted its position in Shutterstock by 30.1% during the 3rd quarter. Savant Capital LLC now owns 15,156 shares of the business services provider’s stock valued at $316,000 after buying an additional 3,508 shares during the period. Institutional investors own 82.79% of the company’s stock.

Shutterstock Price Performance

SSTK stock opened at $16.65 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.51 and a current ratio of 0.51. Shutterstock has a 52 week low of $14.36 and a 52 week high of $29.50. The firm’s fifty day moving average is $16.86 and its 200 day moving average is $18.37. The firm has a market cap of $611.65 million, a P/E ratio of -28.70 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, February 17th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.38). Shutterstock had a negative net margin of 2.19% and a positive return on equity of 14.12%. The business had revenue of $220.22 million for the quarter, compared to the consensus estimate of $252.28 million. During the same period in the prior year, the business posted $0.67 EPS. Shutterstock’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts predict that Shutterstock will post 2.73 earnings per share for the current year.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.44 annualized dividend and a dividend yield of 8.6%. Shutterstock’s dividend payout ratio (DPR) is currently -248.28%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen lowered shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.00.

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.