Shutterstock (NYSE:SSTK) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Shutterstock (NYSE:SSTK) in a research report issued to clients and investors on Friday. The firm set a “hold” rating on the business services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC lowered their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 3.9 %

Shares of SSTK stock opened at $19.93 on Friday. The stock has a market cap of $695.44 million, a P/E ratio of 19.54 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 has a fifty-two week low of $19.88 and a fifty-two week high of $54.40. The business has a fifty day simple moving average of $28.38 and a 200-day simple moving average of $31.09.

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 the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $254.16 million. During the same quarter last year, the business posted $0.72 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. On average, analysts forecast that Shutterstock will post 3.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shutterstock

Several large investors have recently added to or reduced their stakes in SSTK. Arrowstreet Capital Limited Partnership acquired a new position in shares of Shutterstock during the 4th quarter valued at about $9,903,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Shutterstock during the third quarter worth approximately $8,493,000. Dimensional Fund Advisors LP raised its stake in Shutterstock by 22.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after purchasing an additional 189,015 shares during the period. Invenomic Capital Management LP boosted its holdings in shares of Shutterstock by 28.1% in the 4th quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock valued at $18,255,000 after purchasing an additional 132,055 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Shutterstock by 77.6% in the 4th quarter. Millennium Management LLC now owns 299,412 shares of the business services provider’s stock valued at $9,087,000 after purchasing an additional 130,831 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

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.