Shutterstock (NYSE:SSTK) Reaches New 1-Year Low - Should You Sell?

Shares of Shutterstock, Inc. (NYSE:SSTK - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $28.85 and last traded at $28.85, with a volume of 6980 shares. The stock had previously closed at $29.51.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SSTK. Morgan Stanley lowered their price objective on shares of Shutterstock from $58.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 21st. Needham & Company LLC reissued a "buy" rating and set a $55.00 price target on shares of Shutterstock in a report on Tuesday, October 29th. Truist Financial cut their price objective on Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, StockNews.com downgraded Shutterstock from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th.

Shutterstock Price Performance

The firm has a 50 day moving average price of $32.45 and a 200 day moving average price of $36.28. The stock has a market capitalization of $1.03 billion, a PE ratio of 28.97 and a beta of 1.10. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23.

Shutterstock (NYSE:SSTK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.06 by $0.25. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The business had revenue of $250.59 million during the quarter, compared to analysts' expectations of $240.90 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. The business's quarterly revenue was up 7.4% on a year-over-year basis. Research analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current year.

Shutterstock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.30 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.06%. Shutterstock's payout ratio is currently 117.65%.

Institutional Trading of Shutterstock

Several institutional investors and hedge funds have recently modified their holdings of SSTK. Vanguard Group Inc. increased its stake in Shutterstock by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 2,926,166 shares of the business services provider's stock worth $134,048,000 after buying an additional 47,929 shares in the last quarter. TD Asset Management Inc raised its stake in Shutterstock by 13.7% during the 2nd quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider's stock valued at $69,425,000 after purchasing an additional 215,539 shares during the period. Epoch Investment Partners Inc. lifted its holdings in Shutterstock by 22.8% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider's stock worth $42,010,000 after purchasing an additional 201,391 shares in the last quarter. State Street Corp boosted its stake in Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider's stock worth $34,192,000 after purchasing an additional 13,039 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider's stock valued at $33,648,000 after buying an additional 34,243 shares in the last quarter. 82.79% of the stock is currently 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.