KBC Group NV Grows Position in Shutterstock, Inc. (NYSE:SSTK)

KBC Group NV increased its position in Shutterstock, Inc. (NYSE:SSTK) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 66,069 shares of the business services provider’s stock after purchasing an additional 999 shares during the quarter. KBC Group NV owned approximately 0.19% of Shutterstock worth $2,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SSTK. Sei Investments Co. increased its position in Shutterstock by 3.3% during the 2nd quarter. Sei Investments Co. now owns 45,680 shares of the business services provider’s stock valued at $1,768,000 after buying an additional 1,466 shares in the last quarter. Marshall Wace LLP increased its position in Shutterstock by 250.0% during the 2nd quarter. Marshall Wace LLP now owns 55,299 shares of the business services provider’s stock valued at $2,140,000 after buying an additional 39,499 shares in the last quarter. AQR Capital Management LLC increased its position in Shutterstock by 14.3% during the 2nd quarter. AQR Capital Management LLC now owns 56,321 shares of the business services provider’s stock valued at $2,180,000 after buying an additional 7,050 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Shutterstock by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,575 shares of the business services provider’s stock valued at $487,000 after buying an additional 309 shares in the last quarter. Finally, Quarry LP increased its position in Shutterstock by 313.0% during the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after buying an additional 842 shares in the last quarter. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Up 2.7 %

Shutterstock stock opened at $29.53 on Friday. 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, Inc. has a 12 month low of $27.30 and a 12 month high of $54.40. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 28.95 and a beta of 1.08. The stock has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $33.23.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be issued a $0.33 dividend. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 4.47%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is presently 129.41%.

Wall Street Analyst Weigh In

SSTK has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 21st. Truist Financial reduced their target price on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. StockNews.com started coverage on Shutterstock in a report on Sunday, January 26th. They issued a “hold” rating for the company. Finally, Needham & Company LLC reduced their target price on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock presently has an average rating of “Hold” and an average target price of $50.33.

About Shutterstock

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.