Carolina Wealth Advisors LLC Sells 1,855 Shares of Shutterstock, Inc. (NYSE:SSTK)

Carolina Wealth Advisors LLC decreased its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 1.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 110,398 shares of the business services provider’s stock after selling 1,855 shares during the period. Shutterstock makes up 1.8% of Carolina Wealth Advisors LLC’s holdings, making the stock its 21st biggest holding. Carolina Wealth Advisors LLC’s holdings in Shutterstock were worth $3,351,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rubric Capital Management LP bought a new stake in shares of Shutterstock during the second quarter worth $14,769,000. Hotchkis & Wiley Capital Management LLC bought a new position in Shutterstock in the third quarter valued at about $8,493,000. Epoch Investment Partners Inc. increased its position in Shutterstock by 22.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after purchasing an additional 201,391 shares during the period. Rice Hall James & Associates LLC raised its holdings in Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after purchasing an additional 153,154 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Shutterstock by 11,862.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,241 shares of the business services provider’s stock valued at $4,041,000 after purchasing an additional 113,286 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SSTK shares. StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Truist Financial reduced their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Morgan Stanley dropped their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Finally, Needham & Company LLC reduced their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Shutterstock currently has an average rating of “Hold” and a consensus price target of $50.33.

Shutterstock Price Performance

Shares of SSTK stock opened at $31.40 on Thursday. 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 $27.30 and a 12-month high of $54.40. The firm has a fifty day moving average of $31.25 and a 200-day moving average of $33.86. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 30.78 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last posted 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. The firm had revenue of $250.59 million during the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 earnings per share. On average, equities research analysts forecast that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 3.82%. Shutterstock’s payout ratio is 117.65%.

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.