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

Shutterstock, Inc. (NYSE:SSTK) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 1,790,012 shares, a growth of 31.5% from the March 31st total of 1,361,329 shares. Based on an average daily volume of 242,813 shares, the short-interest ratio is currently 7.4 days. Approximately 7.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SSTK shares. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Shutterstock in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Shutterstock has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Trading Down 3.0%

Shares of Shutterstock stock traded down $0.52 during mid-day trading on Wednesday, hitting $16.75. 242,666 shares of the stock were exchanged, compared to its average volume of 292,956. Shutterstock has a twelve month low of $14.36 and a twelve month high of $29.50. The stock has a market capitalization of $595.60 million, a price-to-earnings ratio of 12.99 and a beta of 1.18. The company has a 50-day simple moving average of $16.82 and a 200 day simple moving average of $19.09. 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 (NYSE:SSTK) last released its quarterly earnings results on Friday, May 1st. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.07. Shutterstock had a net margin of 4.60% and a return on equity of 16.13%. The company had revenue of $199.17 million for the quarter, compared to analysts’ expectations of $221.46 million. During the same period last year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. Research analysts forecast that Shutterstock will post 2.73 EPS for the current year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend is Thursday, June 4th. Shutterstock’s dividend payout ratio (DPR) is currently 111.63%.

Institutional Investors Weigh In On Shutterstock

Hedge funds have recently made changes to their positions in the business. WealthCollab LLC boosted its holdings in shares of Shutterstock by 106.3% during the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock worth $28,000 after purchasing an additional 748 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Shutterstock by 150.6% during the second quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Shutterstock by 31.5% during the third quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock worth $62,000 after purchasing an additional 707 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Shutterstock by 72.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Byrne Asset Management LLC boosted its holdings in shares of Shutterstock by 10.7% during the third quarter. Byrne Asset Management LLC now owns 4,272 shares of the business services provider’s stock worth $89,000 after purchasing an additional 412 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

About Shutterstock

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.