Shutterstock (NYSE:SSTK) Shares Up 3.8% – Time to Buy?

Shutterstock, Inc. (NYSE:SSTK)’s stock price traded up 3.8% during mid-day trading on Monday . The company traded as high as $18.47 and last traded at $18.47. 394,634 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 527,751 shares. The stock had previously closed at $17.79.

Analysts Set New Price Targets

Several analysts have issued reports on SSTK shares. StockNews.com began coverage on Shutterstock in a research note on Monday. They issued a “hold” rating on the stock. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Needham & Company LLC cut their target price on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, Truist Financial lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.33.

Shutterstock Trading Up 5.4 %

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 firm has a market cap of $654.09 million, a P/E ratio of 18.38 and a beta of 1.12. The firm has a 50 day simple moving average of $24.80 and a 200 day simple moving average of $29.34.

Shutterstock (NYSE:SSTK) last released its quarterly 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 return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same period in the previous year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities research analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is 130.69%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Amundi grew its stake in Shutterstock by 26.2% in the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Shutterstock by 167.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,565 shares during the last quarter. R Squared Ltd bought a new position in shares of Shutterstock during the 4th quarter valued at about $108,000. Palouse Capital Management Inc. increased its position in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 525 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Shutterstock in the 4th quarter worth approximately $134,000. 82.79% of the stock is currently owned by institutional investors.

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.