Quest Partners LLC Grows Position in Shutterstock, Inc. (NYSE:SSTK)

Quest Partners LLC boosted its stake in Shutterstock, Inc. (NYSE:SSTK) by 17.9% in the second quarter, Holdings Channel.com reports. The firm owned 5,406 shares of the business services provider’s stock after acquiring an additional 822 shares during the quarter. Quest Partners LLC’s holdings in Shutterstock were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SSTK. Truvestments Capital LLC purchased a new stake in Shutterstock during the first quarter worth approximately $42,000. Allspring Global Investments Holdings LLC grew its stake in Shutterstock by 31,733.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock worth $37,000 after buying an additional 952 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Shutterstock during the second quarter worth approximately $41,000. Nisa Investment Advisors LLC grew its stake in Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock worth $79,000 after buying an additional 838 shares during the period. Finally, BOKF NA purchased a new stake in Shutterstock during the first quarter worth approximately $139,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SSTK has been the subject of several research reports. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Shutterstock in a research note on Tuesday, August 6th. Finally, Morgan Stanley boosted their target price on shares of Shutterstock from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd.

Shutterstock Trading Up 3.1 %

NYSE SSTK opened at $33.50 on Monday. The company’s fifty day simple moving average is $37.29 and its 200-day simple moving average is $40.48. Shutterstock, Inc. has a 52 week low of $32.38 and a 52 week high of $54.40. The stock has a market cap of $1.19 billion, a P/E ratio of 12.98 and a beta of 1.09.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $220.05 million during the quarter, compared to analyst estimates of $213.44 million. Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.76 earnings per share. On average, research analysts expect that Shutterstock, Inc. will post 3.22 EPS for the current fiscal year.

Shutterstock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.20 annualized dividend and a yield of 3.58%. Shutterstock’s dividend payout ratio is presently 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.