Investors Buy Large Volume of Put Options on Shutterstock (NYSE:SSTK)

Shutterstock, Inc. (NYSE:SSTK) saw some unusual options trading activity on Thursday. Stock investors acquired 4,983 put options on the company. This represents an increase of approximately 1,539% compared to the typical daily volume of 304 put options.

In other Shutterstock news, Chairman Jonathan Oringer sold 37,597 shares of the business’s stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $104.34, for a total transaction of $3,922,870.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 205,333 shares of company stock worth $20,894,384. 37.40% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in SSTK. KBC Group NV purchased a new position in Shutterstock during the 3rd quarter valued at approximately $29,000. Lazard Asset Management LLC bought a new position in shares of Shutterstock during the 4th quarter valued at approximately $31,000. First Horizon Advisors Inc. purchased a new position in shares of Shutterstock in the third quarter valued at $37,000. Fifth Third Bancorp increased its holdings in shares of Shutterstock by 118.8% in the 3rd quarter. Fifth Third Bancorp now owns 512 shares of the business services provider’s stock worth $58,000 after buying an additional 278 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in Shutterstock during the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Several research analysts have weighed in on SSTK shares. Needham & Company LLC decreased their price target on shares of Shutterstock from $145.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday. JMP Securities upped their price target on Shutterstock from $123.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Finally, Zacks Investment Research raised Shutterstock from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, February 1st.

Shares of Shutterstock stock opened at $88.30 on Friday. Shutterstock has a fifty-two week low of $77.38 and a fifty-two week high of $128.36. The company has a market capitalization of $3.23 billion, a P/E ratio of 32.58, a P/E/G ratio of 3.29 and a beta of 1.09. The company has a fifty day moving average of $101.11 and a 200 day moving average of $109.84.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Thursday, February 10th. The business services provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.29. Shutterstock had a return on equity of 23.73% and a net margin of 13.48%. The business had revenue of $205.78 million for the quarter, compared to the consensus estimate of $201.92 million. During the same period in the previous year, the business earned $0.71 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, analysts anticipate that Shutterstock will post 2.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 17th. Shareholders of record on Thursday, March 3rd will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.09%. This is an increase from Shutterstock’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, March 2nd. Shutterstock’s dividend payout ratio is presently 31.00%.

Shutterstock Company Profile

Shutterstock, Inc engages in the operation of a marketplace for licensed content. The firm licenses images, video, music, editorial assets, and custom content tailored to a brand’s needs. It operates through the Content Business and Other Category segments. The Content segment consists of Bigstock, Music, and Editorial.

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