Shutterstock (NYSE:SSTK) Sets New 52-Week Low – Here’s What Happened

Shutterstock, Inc. (NYSE:SSTK) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $19.13 and last traded at $19.50, with a volume of 327926 shares traded. The stock had previously closed at $19.41.

Analyst Ratings Changes

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

Shutterstock Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The business has a 50-day moving average of $27.13 and a 200-day moving average of $30.42. The firm has a market cap of $686.54 million, a price-to-earnings ratio of 19.11 and a beta of 1.12.

Shutterstock (NYSE:SSTK) last issued 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 return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 15.2% on a year-over-year basis. Research analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be given a $0.33 dividend. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 6.71%. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership purchased a new position in shares of Shutterstock during the fourth quarter valued at about $9,903,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Shutterstock during the third quarter worth about $8,493,000. Dimensional Fund Advisors LP lifted its stake in shares of Shutterstock by 22.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after buying an additional 189,015 shares in the last quarter. Invenomic Capital Management LP lifted its stake in shares of Shutterstock by 28.1% in the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after buying an additional 132,055 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Shutterstock by 77.6% in the fourth quarter. Millennium Management LLC now owns 299,412 shares of the business services provider’s stock worth $9,087,000 after buying an additional 130,831 shares in the last quarter. 82.79% of the stock is owned by 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.