Rice Hall James & Associates LLC Increases Stock Holdings in Shutterstock, Inc. (NYSE:SSTK)

Rice Hall James & Associates LLC lifted its stake in shares of Shutterstock, Inc. (NYSE:SSTK) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 547,520 shares of the business services provider’s stock after buying an additional 18,133 shares during the period. Shutterstock comprises about 0.9% of Rice Hall James & Associates LLC’s holdings, making the stock its 29th largest position. Rice Hall James & Associates LLC owned approximately 1.57% of Shutterstock worth $16,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SSTK. Truvestments Capital LLC purchased a new position in Shutterstock in the third quarter worth $31,000. R Squared Ltd bought a new stake in shares of Shutterstock in the fourth quarter valued at $108,000. Palouse Capital Management Inc. raised its stake in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after buying an additional 525 shares during the period. Covestor Ltd raised its stake in shares of Shutterstock by 9.5% in the third quarter. Covestor Ltd now owns 4,577 shares of the business services provider’s stock valued at $162,000 after buying an additional 397 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Shutterstock in the third quarter valued at $284,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SSTK. StockNews.com began coverage on Shutterstock in a research note on Tuesday, February 11th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial decreased their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Needham & Company LLC decreased their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Morgan Stanley decreased their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Shutterstock currently has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Price Performance

Shares of NYSE SSTK opened at $28.71 on Tuesday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 28.15 and a beta of 1.08. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $30.42 and its two-hundred day simple moving average is $32.25. Shutterstock, Inc. has a twelve month low of $27.30 and a twelve month high of $54.40.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.33 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Thursday, March 6th. Shutterstock’s dividend payout ratio is currently 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.