Janus Henderson Group PLC Sells 8,305 Shares of Shutterstock, Inc. (NYSE:SSTK)

Janus Henderson Group PLC lowered its position in Shutterstock, Inc. (NYSE:SSTK) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,312 shares of the business services provider’s stock after selling 8,305 shares during the quarter. Janus Henderson Group PLC’s holdings in Shutterstock were worth $1,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Amundi boosted its position in Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Shutterstock by 167.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after purchasing an additional 1,565 shares during the period. R Squared Ltd purchased a new position in shares of Shutterstock in the fourth quarter worth approximately $108,000. Palouse Capital Management Inc. grew its position in Shutterstock by 13.7% during 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. Finally, KLP Kapitalforvaltning AS purchased a new stake in Shutterstock during the fourth quarter valued at approximately $134,000. Institutional investors own 82.79% of the company’s stock.

Shutterstock Stock Down 1.9%

Shares of SSTK stock opened at $17.90 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. Shutterstock, Inc. has a one year low of $14.35 and a one year high of $46.10. The company’s fifty day moving average price is $17.38 and its 200-day moving average price is $25.12. The company has a market capitalization of $631.05 million, a price-to-earnings ratio of 17.55 and a beta of 1.10.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Friday, May 2nd. The business services provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.23). The business had revenue of $242.62 million for the quarter, compared to the consensus estimate of $249.44 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock’s revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Sell-side analysts expect that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a $0.33 dividend. The ex-dividend date is Thursday, June 5th. This represents a $1.32 dividend on an annualized basis and a yield of 7.37%. Shutterstock’s dividend payout ratio is presently 121.10%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SSTK. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday, May 5th. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. StockNews.com assumed coverage on Shutterstock in a report on Wednesday. They set a “buy” rating for the company. Finally, Needham & Company LLC reduced their price target on Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.33.

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.