Vest Financial LLC Acquires 11,451 Shares of Shutterstock, Inc. (NYSE:SSTK)

Vest Financial LLC grew its holdings in Shutterstock, Inc. (NYSE:SSTK) by 66.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,729 shares of the business services provider’s stock after purchasing an additional 11,451 shares during the period. Vest Financial LLC’s holdings in Shutterstock were worth $1,112,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc grew its stake in 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 buying an additional 747,180 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of Shutterstock in the fourth quarter worth $21,242,000. LSV Asset Management grew its position in shares of Shutterstock by 30.9% in the first quarter. LSV Asset Management now owns 1,793,785 shares of the business services provider’s stock valued at $82,173,000 after purchasing an additional 422,942 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Shutterstock by 250.4% during 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 period. Finally, Trigran Investments Inc. lifted its holdings in Shutterstock by 15.5% during the 4th quarter. Trigran Investments Inc. now owns 1,214,726 shares of the business services provider’s stock worth $58,647,000 after purchasing an additional 163,268 shares in the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on SSTK shares. Morgan Stanley lifted their target price on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th.

Shutterstock Trading Down 2.5 %

Shares of NYSE SSTK opened at $32.52 on Friday. The business has a 50-day moving average of $37.38 and a 200-day moving average of $40.72. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 12.60 and a beta of 1.09. Shutterstock, Inc. has a 12 month low of $32.38 and a 12 month high of $54.40.

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

Shutterstock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 3.69%. Shutterstock’s dividend payout ratio (DPR) is presently 46.51%.

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.