Shutterstock (NYSE:SSTK) Shares Gap Down – What’s Next?

Shutterstock, Inc. (NYSE:SSTK) gapped down prior to trading on Wednesday . The stock had previously closed at $34.50, but opened at $32.86. Shutterstock shares last traded at $31.85, with a volume of 283,390 shares changing hands.

Analyst Ratings Changes

SSTK has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Shutterstock in a research report on Tuesday, October 29th. Morgan Stanley cut their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Truist Financial lowered their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Monday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Shutterstock has a consensus rating of “Hold” and a consensus price target of $53.67.

Shutterstock Stock Performance

The business has a fifty day moving average of $31.49 and a 200 day moving average of $34.11. The company has a market cap of $1.07 billion, a P/E ratio of 29.98 and a beta of 1.08. 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 issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.06 by $0.25. The business had revenue of $250.59 million during the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. On average, equities analysts predict that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.20 annualized dividend and a yield of 3.92%. Shutterstock’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Investors Weigh In On Shutterstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC boosted its holdings in shares of Shutterstock by 167.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 33,598 shares of the business services provider’s stock valued at $1,300,000 after buying an additional 21,014 shares in the last quarter. Quest Partners LLC boosted its stake in Shutterstock by 17.9% during the second quarter. Quest Partners LLC now owns 5,406 shares of the business services provider’s stock worth $209,000 after acquiring an additional 822 shares in the last quarter. Headlands Technologies LLC grew its holdings in Shutterstock by 1,339.2% in the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares during the period. American Century Companies Inc. increased its stake in shares of Shutterstock by 44.9% during the second quarter. American Century Companies Inc. now owns 35,869 shares of the business services provider’s stock valued at $1,388,000 after purchasing an additional 11,117 shares in the last quarter. Finally, BOKF NA increased its stake in shares of Shutterstock by 142.7% during the second quarter. BOKF NA now owns 7,476 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 4,396 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.