Shutterstock (NYSE:SSTK) Hits New 1-Year Low – What’s Next?

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

Analyst Ratings Changes

SSTK has been the subject of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Needham & Company LLC dropped 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. Finally, StockNews.com started coverage on shares of Shutterstock in a research note on Saturday. They set 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.33.

Shutterstock Trading Up 1.4 %

The company’s 50 day moving average price is $27.13 and its 200 day moving average price is $30.42. The firm has a market cap of $686.54 million, a PE ratio of 19.11 and a beta of 1.12. 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 (NYSE:SSTK) last posted its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share 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 analysts’ expectations of $254.16 million. During the same quarter last year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is currently 130.69%.

Institutional Investors Weigh In On Shutterstock

Large investors have recently added to or reduced their stakes in the stock. Truvestments Capital LLC acquired a new stake in Shutterstock in the 3rd quarter worth approximately $31,000. Amundi boosted its stake 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 in the last quarter. PNC Financial Services Group Inc. boosted its stake in Shutterstock by 167.6% in the fourth 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 in the last quarter. R Squared Ltd acquired a new position in shares of Shutterstock during the fourth quarter valued at $108,000. Finally, Palouse Capital Management Inc. increased its holdings in shares of Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

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.