Stifel Financial Corp Purchases 5,023 Shares of Shutterstock, Inc. (NYSE:SSTK)

Stifel Financial Corp grew its position in shares of Shutterstock, Inc. (NYSE:SSTK) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,344 shares of the business services provider’s stock after buying an additional 5,023 shares during the quarter. Stifel Financial Corp owned approximately 0.17% of Shutterstock worth $2,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC bought a new position in Shutterstock in the 3rd quarter valued at $31,000. Allspring Global Investments Holdings LLC increased its position in Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 952 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Shutterstock in the second quarter worth about $41,000. Quarry LP lifted its position in shares of Shutterstock by 313.0% during the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after purchasing an additional 842 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Shutterstock by 69.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after buying an additional 838 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SSTK. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. Truist Financial decreased their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 21st.

Shutterstock Trading Down 0.3 %

Shares of NYSE:SSTK opened at $29.96 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 29.37 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. Shutterstock, Inc. has a 12 month low of $28.85 and a 12 month high of $54.40. The company’s fifty day simple moving average is $31.54 and its 200 day simple moving average is $35.02.

Shutterstock (NYSE:SSTK) last announced its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same quarter last year, the firm earned $0.99 EPS. Shutterstock’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts forecast that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Friday, November 29th. Shutterstock’s dividend payout ratio is currently 117.65%.

About Shutterstock

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.