Shutterstock, Inc. (NYSE:SSTK - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The stock traded as low as $17.17 and last traded at $18.75, with a volume of 764323 shares trading hands. The stock had previously closed at $17.79.
Analyst Ratings Changes
A number of research analysts have issued reports on SSTK shares. Needham & Company LLC decreased their target price on Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. StockNews.com started coverage on shares of Shutterstock in a report on Monday, March 31st. They set a "hold" rating on the stock. JMP Securities reissued a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Truist Financial cut shares of Shutterstock from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $45.33.
Read Our Latest Stock Analysis on SSTK
Shutterstock Stock Down 3.9 %
The stock has a market capitalization of $547.31 million, a price-to-earnings ratio of 15.38 and a beta of 1.12. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $23.51 and a 200 day moving average price of $28.80.
Shutterstock (NYSE:SSTK - Get Free Report) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm'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 year.
Shutterstock Increases Dividend
The business also recently announced 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 is a positive change from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 8.42%. The ex-dividend date of this dividend was Thursday, March 6th. Shutterstock's dividend payout ratio (DPR) is currently 130.69%.
Institutional Investors Weigh In On Shutterstock
A number of institutional investors have recently made changes to their positions in SSTK. Charles Schwab Investment Management Inc. boosted its holdings in Shutterstock by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 320,895 shares of the business services provider's stock valued at $11,350,000 after acquiring an additional 13,539 shares during the last quarter. FMR LLC boosted its stake in shares of Shutterstock by 397.5% in the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider's stock valued at $1,386,000 after purchasing an additional 31,315 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of Shutterstock by 25.6% in the 3rd quarter. Verition Fund Management LLC now owns 23,550 shares of the business services provider's stock valued at $833,000 after purchasing an additional 4,805 shares during the last quarter. Centiva Capital LP increased its position in shares of Shutterstock by 189.7% during the third quarter. Centiva Capital LP now owns 20,378 shares of the business services provider's stock worth $721,000 after buying an additional 13,343 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Shutterstock by 15.8% during the third quarter. Janus Henderson Group PLC now owns 65,617 shares of the business services provider's stock worth $2,321,000 after buying an additional 8,965 shares during the last quarter. Institutional investors own 82.79% of the company's stock.
About Shutterstock
(
Get Free Report)
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.
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