XTX Topco Ltd Has $584,000 Stock Position in Shutterstock, Inc. (NYSE:SSTK)

XTX Topco Ltd lifted its holdings in shares of Shutterstock, Inc. (NYSE:SSTK) by 97.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,524 shares of the business services provider’s stock after purchasing an additional 8,151 shares during the period. XTX Topco Ltd’s holdings in Shutterstock were worth $584,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Rubric Capital Management LP bought a new position in Shutterstock during the 2nd quarter worth $14,769,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Shutterstock during the third quarter worth about $8,493,000. TD Asset Management Inc lifted its stake in shares of Shutterstock by 13.7% in the second quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after acquiring an additional 215,539 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Shutterstock by 22.8% in the second quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock valued at $42,010,000 after acquiring an additional 201,391 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its position in Shutterstock by 40.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock valued at $18,724,000 after purchasing an additional 153,154 shares during the period. Institutional investors own 82.79% of the company’s stock.

Analyst Ratings Changes

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

Shutterstock Trading Down 0.4 %

SSTK opened at $32.32 on Friday. The company has a fifty day moving average price of $31.56 and a two-hundred day moving average price of $35.28. Shutterstock, Inc. has a 1-year low of $28.85 and a 1-year high of $54.40. The company has a market cap of $1.13 billion, a P/E ratio of 31.69 and a beta of 1.08. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK) last issued its earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts predict that Shutterstock, Inc. will post 3.07 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, November 29th. 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.