Shutterstock (NYSE:SSTK) Sets New 12-Month Low – Here’s Why

Shutterstock, Inc. (NYSE:SSTK)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $18.61 and last traded at $18.83, with a volume of 86618 shares. The stock had previously closed at $19.22.

Wall Street Analyst Weigh In

SSTK has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, StockNews.com began coverage on shares of Shutterstock in a research report on Sunday, March 23rd. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shutterstock currently has a consensus rating of “Hold” and an average price target of $45.33.

Shutterstock Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The stock’s fifty day moving average is $25.06 and its two-hundred day moving average is $29.51. The company has a market cap of $642.82 million, a price-to-earnings ratio of 18.06 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the prior year, the firm posted $0.72 earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Sell-side analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.17%. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 6th. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Institutional Investors Weigh In On Shutterstock

A number of large investors have recently modified their holdings of the stock. Truvestments Capital LLC bought a new position in shares of Shutterstock during the third quarter valued at approximately $31,000. Amundi lifted its position in shares of Shutterstock by 26.2% in the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 488 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 1,565 shares during the last quarter. R Squared Ltd purchased a new position in shares of Shutterstock in the fourth quarter valued at $108,000. Finally, Palouse Capital Management Inc. lifted its holdings in shares of Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after acquiring an additional 525 shares during the last quarter. Institutional investors own 82.79% of the company’s stock.

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.