Janney Montgomery Scott LLC Has $939,000 Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Janney Montgomery Scott LLC raised its stake in Shutterstock, Inc. (NYSE:SSTK) by 97.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,536 shares of the business services provider’s stock after buying an additional 13,088 shares during the period. Janney Montgomery Scott LLC owned 0.07% of Shutterstock worth $939,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Shutterstock by 31,733.3% in the second 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 during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Shutterstock during the second quarter worth $41,000. Truvestments Capital LLC bought a new position in Shutterstock during the first quarter worth $42,000. Quarry LP lifted its holdings in Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after buying an additional 842 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Shutterstock by 69.6% in the second 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 period. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Performance

Shares of Shutterstock stock opened at $30.55 on Friday. The business has a 50-day simple moving average of $32.55 and a 200 day simple moving average of $36.46. Shutterstock, Inc. has a one year low of $28.95 and a one year high of $54.40. 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 firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 29.95 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping 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 company had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. During the same period in the prior year, the firm earned $0.99 earnings per share. Shutterstock’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.93%. The ex-dividend date is Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Analyst Ratings Changes

Several equities research analysts recently commented on SSTK shares. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research report on Tuesday, October 29th. Truist Financial dropped their price target on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley reduced their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Finally, StockNews.com downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.