Victory Capital Management Inc. Cuts Holdings in Shutterstock, Inc. (NYSE:SSTK)

Victory Capital Management Inc. cut its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 68.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,370 shares of the business services provider’s stock after selling 88,698 shares during the quarter. Victory Capital Management Inc.’s holdings in Shutterstock were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Shutterstock by 9.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,204 shares of the business services provider’s stock worth $10,659,000 after purchasing an additional 30,309 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Shutterstock by 6.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 24,196 shares of the business services provider’s stock worth $734,000 after purchasing an additional 1,386 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its holdings in Shutterstock by 50.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the business services provider’s stock worth $1,912,000 after purchasing an additional 21,000 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in Shutterstock by 3.4% during the fourth quarter. Rice Hall James & Associates LLC now owns 547,520 shares of the business services provider’s stock worth $16,617,000 after purchasing an additional 18,133 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Shutterstock by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 149,039 shares of the business services provider’s stock worth $4,523,000 after purchasing an additional 5,204 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Stock Performance

NYSE SSTK opened at $19.55 on Thursday. The company’s 50 day moving average is $26.40 and its 200-day moving average is $30.12. Shutterstock, Inc. has a 12-month low of $18.63 and a 12-month high of $48.42. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a market cap of $682.25 million, a P/E ratio of 19.17 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is 130.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SSTK shares. Needham & Company LLC dropped their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. StockNews.com started coverage on shares of Shutterstock in a research note on Saturday, March 15th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Shutterstock currently has a consensus rating of “Hold” and a consensus price target of $45.33.

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.