Victory Capital Management Inc. Has $4.60 Million Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Victory Capital Management Inc. trimmed its holdings in Shutterstock, Inc. (NYSE:SSTK) by 20.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,068 shares of the business services provider’s stock after selling 33,187 shares during the quarter. Victory Capital Management Inc. owned about 0.37% of Shutterstock worth $4,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SSTK. The Manufacturers Life Insurance Company raised its holdings in Shutterstock by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock worth $487,000 after purchasing an additional 309 shares during the period. Cascade Investment Advisors Inc. increased its position in shares of Shutterstock by 1.2% in the 3rd quarter. Cascade Investment Advisors Inc. now owns 27,430 shares of the business services provider’s stock valued at $970,000 after buying an additional 315 shares in the last quarter. ProShare Advisors LLC raised its stake in Shutterstock by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock worth $227,000 after buying an additional 342 shares during the period. Covestor Ltd lifted its holdings in Shutterstock by 9.5% during the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock worth $162,000 after acquiring an additional 397 shares in the last quarter. Finally, Palouse Capital Management Inc. grew its stake in Shutterstock by 20.7% in the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock valued at $150,000 after acquiring an additional 665 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Trading Up 3.1 %

SSTK stock opened at $30.98 on Friday. Shutterstock, Inc. has a 52 week low of $28.85 and a 52 week high of $54.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company’s 50-day simple moving average is $32.27 and its 200 day simple moving average is $36.13. The company has a market capitalization of $1.08 billion, a PE ratio of 29.45 and a beta of 1.10.

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

Shutterstock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Analysts Set New Price Targets

SSTK has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Truist Financial reduced their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a research note on Tuesday, October 29th.

Shutterstock 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.