Moors & Cabot Inc. Acquires Shares of 8,029 Shutterstock, Inc. (NYSE:SSTK)

Moors & Cabot Inc. bought a new position in shares of Shutterstock, Inc. (NYSE:SSTK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,029 shares of the business services provider’s stock, valued at approximately $284,000.

Several other large investors also recently modified their holdings of SSTK. ProShare Advisors LLC grew its position in shares of Shutterstock by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,957 shares of the business services provider’s stock worth $227,000 after buying an additional 342 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Shutterstock by 41.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,067 shares of the business services provider’s stock worth $461,000 after acquiring an additional 2,965 shares during the period. Vanguard Group Inc. boosted its holdings in Shutterstock by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider’s stock valued at $134,048,000 after acquiring an additional 47,929 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in Shutterstock by 7.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 20,438 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 1,485 shares during the period. Finally, BOKF NA bought a new position in Shutterstock in the 1st quarter worth $139,000. 82.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial decreased their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. StockNews.com cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Morgan Stanley decreased their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Shutterstock in a research note on Tuesday, October 29th.

Shutterstock Stock Up 3.1 %

SSTK opened at $30.98 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 30.37 and a beta of 1.10. The firm has a 50 day moving average price of $32.22 and a 200-day moving average price of $36.07. Shutterstock, Inc. has a twelve month low of $28.85 and a twelve month high of $54.40. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.25. The firm had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. Equities research analysts forecast that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, November 29th. Shutterstock’s dividend payout ratio is presently 117.65%.

Shutterstock 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.