Shutterstock, Inc. (NYSE:SSTK) Short Interest Update

Shutterstock, Inc. (NYSE:SSTK) saw a significant growth in short interest in February. As of February 13th, there was short interest totaling 1,812,600 shares, a growth of 32.7% from the January 29th total of 1,366,231 shares. Approximately 7.5% of the company’s stock are short sold. Based on an average trading volume of 337,286 shares, the short-interest ratio is presently 5.4 days. Based on an average trading volume of 337,286 shares, the short-interest ratio is presently 5.4 days. Approximately 7.5% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SSTK shares. Wall Street Zen lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Shutterstock currently has an average rating of “Hold” and an average target price of $25.00.

Hedge Funds Weigh In On Shutterstock

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Shutterstock by 12.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock valued at $557,000 after acquiring an additional 3,263 shares in the last quarter. Millennium Management LLC lifted its stake in Shutterstock by 109.3% during the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after purchasing an additional 327,203 shares during the period. AlphaQuest LLC boosted its stake in Shutterstock by 9.8% in the second quarter. AlphaQuest LLC now owns 11,796 shares of the business services provider’s stock worth $224,000 after purchasing an additional 1,050 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Shutterstock by 4,150.2% in the second quarter. Nisa Investment Advisors LLC now owns 18,361 shares of the business services provider’s stock worth $348,000 after purchasing an additional 17,929 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Shutterstock during the second quarter worth $226,000. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Performance

SSTK traded down $0.32 during trading on Monday, hitting $16.48. The stock had a trading volume of 384,266 shares, compared to its average volume of 331,944. The firm has a market cap of $585.86 million, a PE ratio of 12.78 and a beta of 1.23. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.20. Shutterstock has a 12 month low of $14.35 and a 12 month high of $29.50. The company has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $20.30.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Tuesday, February 17th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.38). Shutterstock had a net margin of 4.60% and a return on equity of 16.13%. The business had revenue of $220.22 million during the quarter, compared to analyst estimates of $252.28 million. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was down 12.0% compared to the same quarter last year. Analysts expect that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 8.7%. This is an increase from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 5th. Shutterstock’s dividend payout ratio (DPR) is 102.33%.

Shutterstock Company Profile

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.