Unison Advisors LLC Purchases New Shares in Shutterstock, Inc. $SSTK

Unison Advisors LLC purchased a new position in shares of Shutterstock, Inc. (NYSE:SSTK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 38,239 shares of the business services provider’s stock, valued at approximately $730,000. Unison Advisors LLC owned about 0.11% of Shutterstock as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $557,000 after buying an additional 3,263 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Shutterstock by 109.3% in the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after acquiring an additional 327,203 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Shutterstock by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 115,117 shares of the business services provider’s stock valued at $2,183,000 after acquiring an additional 21,083 shares during the last quarter. Franklin Resources Inc. bought a new stake in Shutterstock during the second quarter worth $195,000. Finally, Rhumbline Advisers lifted its holdings in Shutterstock by 8.0% during the second quarter. Rhumbline Advisers now owns 95,012 shares of the business services provider’s stock worth $1,801,000 after acquiring an additional 7,006 shares during the period. 82.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research raised Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Shutterstock currently has an average rating of “Hold” and an average price target of $25.00.

Shutterstock Stock Performance

NYSE SSTK opened at $16.64 on Monday. The firm has a market cap of $591.52 million, a P/E ratio of 12.90 and a beta of 1.18. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $17.16 and its 200-day moving average is $19.55. Shutterstock, Inc. has a 12-month low of $14.35 and a 12-month high of $29.50.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, February 17th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $252.28 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 8.7%. This is a boost from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 5th. Shutterstock’s dividend payout ratio (DPR) is presently 111.63%.

Shutterstock 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.