Janney Montgomery Scott LLC Purchases 3,734 Shares of Shutterstock, Inc. (NYSE:SSTK)

Janney Montgomery Scott LLC grew its position in Shutterstock, Inc. (NYSE:SSTK) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,270 shares of the business services provider’s stock after purchasing an additional 3,734 shares during the quarter. Janney Montgomery Scott LLC owned about 0.09% of Shutterstock worth $919,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SSTK. State Street Corp grew its stake in Shutterstock by 1.4% during the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after buying an additional 13,039 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after acquiring an additional 25,050 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in shares of Shutterstock by 40.7% during the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after acquiring an additional 153,154 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Shutterstock by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 320,895 shares of the business services provider’s stock valued at $11,350,000 after purchasing an additional 13,539 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in Shutterstock in the 3rd quarter worth approximately $8,493,000. 82.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Needham & Company LLC cut their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. StockNews.com initiated coverage on Shutterstock in a research report on Monday. They issued a “hold” rating on the stock. Morgan Stanley lowered their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial dropped their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $50.33.

Shutterstock Price Performance

Shares of SSTK opened at $30.10 on Thursday. The company has a market capitalization of $1.05 billion, a P/E ratio of 29.51 and a beta of 1.08. The business’s 50-day moving average is $30.81 and its two-hundred day moving average is $32.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. Shutterstock, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $54.40.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.39%. Shutterstock’s payout ratio is presently 129.41%.

Shutterstock Company 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.