Shutterstock, Inc. (NYSE:SSTK) Given Average Recommendation of “Hold” by Brokerages

Shutterstock, Inc. (NYSE:SSTK) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.00.

A number of analysts recently commented on the stock. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, January 21st.

Institutional Investors Weigh In On Shutterstock

Institutional investors and hedge funds have recently made changes to their positions in the business. WealthCollab LLC grew its holdings in shares of Shutterstock by 106.3% during the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after buying an additional 748 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,065 shares during the period. EMC Capital Management acquired a new stake in Shutterstock during the second quarter worth approximately $36,000. Covestor Ltd grew its stake in Shutterstock by 31.5% in the 3rd quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock worth $62,000 after acquiring an additional 707 shares during the period. Finally, Equitec Proprietary Markets LLC purchased a new stake in Shutterstock in the 2nd quarter worth approximately $57,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $17.28 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.53 and a current ratio of 0.53. Shutterstock has a one year low of $14.35 and a one year high of $29.96. The firm has a market capitalization of $613.64 million, a P/E ratio of 10.28 and a beta of 1.26. The company’s fifty day moving average is $18.79 and its two-hundred day moving average is $20.62.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 8.3%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 5th. Shutterstock’s dividend payout ratio is currently 78.57%.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.