Shutterstock, Inc. (NYSE:SSTK) Short Interest Up 41.0% in February

Shutterstock, Inc. (NYSE:SSTK) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 2,556,659 shares, an increase of 41.0% from the February 12th total of 1,812,600 shares. Based on an average trading volume of 636,013 shares, the days-to-cover ratio is presently 4.0 days. Currently, 10.6% of the company’s stock are sold short. Currently, 10.6% of the company’s stock are sold short. Based on an average trading volume of 636,013 shares, the days-to-cover ratio is presently 4.0 days.

Shutterstock Stock Down 1.2%

SSTK stock traded down $0.20 during mid-day trading on Friday, hitting $16.07. 243,707 shares of the company were exchanged, compared to its average volume of 463,492. The company has a market capitalization of $571.29 million, a PE ratio of 12.46 and a beta of 1.23. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. Shutterstock has a twelve month low of $14.35 and a twelve month high of $29.50. The firm has a fifty day simple moving average of $17.86 and a 200 day simple moving average of $20.02.

Shutterstock (NYSE:SSTK) last issued its earnings results 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 net margin of 4.60% and a return on equity of 16.13%. The company had revenue of $220.22 million during the quarter, compared to analyst estimates of $252.28 million. During the same quarter last year, the company posted $0.67 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, research analysts forecast that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company 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 represents a $1.44 annualized dividend and a dividend yield of 9.0%. This is an increase from Shutterstock’s previous quarterly dividend of $0.33. Shutterstock’s dividend payout ratio is currently 111.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

Institutional Trading of Shutterstock

Several institutional investors have recently added to or reduced their stakes in the business. WealthCollab LLC raised its holdings in shares of Shutterstock by 106.3% during 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 period. Osaic Holdings Inc. grew its position in shares of Shutterstock by 150.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,065 shares during the last quarter. EMC Capital Management acquired a new stake in Shutterstock during the second quarter worth about $36,000. Covestor Ltd raised its stake in Shutterstock by 31.5% during the third quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock worth $62,000 after acquiring an additional 707 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Shutterstock by 72.7% in the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after acquiring an additional 1,388 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.