Charles Schwab Investment Management Inc. Purchases 30,309 Shares of Shutterstock, Inc. (NYSE:SSTK)

Charles Schwab Investment Management Inc. lifted its position in Shutterstock, Inc. (NYSE:SSTK) by 9.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 351,204 shares of the business services provider’s stock after buying an additional 30,309 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Shutterstock were worth $10,659,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp increased its holdings in Shutterstock by 1.4% during the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after purchasing an additional 13,039 shares in the last quarter. Geode Capital Management LLC increased its holdings in Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after purchasing an additional 25,050 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Shutterstock by 3.4% during the 4th 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 in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in Shutterstock during the 3rd quarter worth about $8,493,000. Finally, Tieton Capital Management LLC increased its holdings in Shutterstock by 19.1% during the 3rd quarter. Tieton Capital Management LLC now owns 163,675 shares of the business services provider’s stock worth $5,789,000 after purchasing an additional 26,220 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Needham & Company LLC lowered their target price on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. StockNews.com assumed coverage on Shutterstock in a report on Sunday. They set a “hold” rating for the company. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.33.

Shutterstock Trading Up 0.2 %

Shutterstock stock opened at $19.55 on Friday. The firm has a 50-day moving average of $25.96 and a 200-day moving average of $29.90. Shutterstock, Inc. has a one year low of $18.63 and a one year high of $47.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $682.18 million, a price-to-earnings ratio of 19.17 and a beta of 1.12.

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

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were paid a $0.33 dividend. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 6.75%. The ex-dividend date was Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Shutterstock Company 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.