Los Angeles Capital Management LLC Purchases New Position in Shutterstock, Inc. (NYSE:SSTK)

Los Angeles Capital Management LLC purchased a new stake in shares of Shutterstock, Inc. (NYSE:SSTK) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 12,584 shares of the business services provider’s stock, valued at approximately $576,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its stake in shares of Shutterstock by 469.3% in the 4th quarter. TD Asset Management Inc now owns 906,391 shares of the business services provider’s stock valued at $43,761,000 after purchasing an additional 747,180 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Shutterstock in the 4th quarter valued at approximately $21,242,000. LSV Asset Management lifted its stake in shares of Shutterstock by 46.3% in the 4th quarter. LSV Asset Management now owns 1,370,843 shares of the business services provider’s stock valued at $66,184,000 after purchasing an additional 433,906 shares during the last quarter. Copeland Capital Management LLC lifted its stake in shares of Shutterstock by 37.3% in the 4th quarter. Copeland Capital Management LLC now owns 1,394,278 shares of the business services provider’s stock valued at $67,316,000 after purchasing an additional 378,450 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Shutterstock by 250.4% in the 4th quarter. Epoch Investment Partners Inc. now owns 523,733 shares of the business services provider’s stock valued at $25,286,000 after purchasing an additional 374,280 shares during the last quarter. 82.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Shutterstock news, insider John Caine sold 5,439 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total transaction of $233,387.49. Following the transaction, the insider now directly owns 1,974 shares in the company, valued at approximately $84,704.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Caine sold 5,439 shares of Shutterstock stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $42.91, for a total value of $233,387.49. Following the transaction, the insider now directly owns 1,974 shares in the company, valued at approximately $84,704.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jarrod Yahes purchased 5,350 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $37.35 per share, for a total transaction of $199,822.50. Following the completion of the acquisition, the chief financial officer now directly owns 43,904 shares in the company, valued at approximately $1,639,814.40. The disclosure for this purchase can be found here. 32.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SSTK shares. StockNews.com downgraded Shutterstock from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 29th. Truist Financial reduced their price target on Shutterstock from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Shutterstock in a report on Tuesday, May 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Shutterstock Stock Down 0.1 %

SSTK opened at $37.78 on Wednesday. The stock’s fifty day moving average is $40.16 and its two-hundred day moving average is $44.59. The company has a market capitalization of $1.35 billion, a P/E ratio of 14.64 and a beta of 1.12. Shutterstock, Inc. has a 52 week low of $33.80 and a 52 week high of $58.42.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Thursday, May 2nd. The business services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.73 by $0.16. The company had revenue of $214.32 million for the quarter, compared to the consensus estimate of $211.03 million. Shutterstock had a return on equity of 21.14% and a net margin of 10.71%. Equities analysts anticipate that Shutterstock, Inc. will post 3.38 earnings per share for the current year.

Shutterstock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $1.20 annualized dividend and a yield of 3.18%. Shutterstock’s payout ratio is currently 46.51%.

Shutterstock Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.