Shutterstock (NYSE:SSTK) Reaches New 52-Week Low - What's Next?

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SSTK shares. Needham & Company LLC cut their target price 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. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. StockNews.com began coverage on Shutterstock in a research report on Sunday, March 23rd. They issued a "hold" rating on the stock. Finally, Truist Financial cut Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $45.33.

Shutterstock Price Performance

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 has a market capitalization of $620.66 million, a P/E ratio of 17.44 and a beta of 1.12. The business has a fifty day simple moving average of $24.80 and a 200-day simple moving average of $29.36.

Remove Ads

Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results 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). The company had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. Sell-side analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date of this dividend was Thursday, March 6th. This is an increase from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio is 130.69%.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in Shutterstock by 11.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,636 shares of the business services provider's stock valued at $201,000 after buying an additional 682 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Shutterstock in the 4th quarter valued at about $2,716,000. Mackenzie Financial Corp bought a new position in shares of Shutterstock in the fourth quarter worth approximately $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Shutterstock by 13.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider's stock worth $1,753,000 after buying an additional 7,023 shares in the last quarter. Finally, Vident Advisory LLC boosted its holdings in shares of Shutterstock by 9.1% in the 4th quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider's stock worth $481,000 after purchasing an additional 1,321 shares in the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

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.