Shutterstock (NYSE:SSTK) Reaches New 12-Month Low - What's Next?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $21.15 and last traded at $21.30, with a volume of 69790 shares changing hands. The stock had previously closed at $21.49.

Analyst Ratings Changes

Several research firms have commented on SSTK. StockNews.com assumed coverage on Shutterstock in a research report on Thursday, February 27th. They set a "hold" rating on the stock. Needham & Company LLC cut their target price on shares of Shutterstock from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, January 13th. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research note on Monday, January 6th. Finally, Truist Financial downgraded shares of Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four equities research 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 stock currently has a consensus rating of "Hold" and a consensus price target of $50.33.

Shutterstock Stock Performance

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 fifty day moving average price of $28.79 and a 200-day moving average price of $31.24. The firm has a market cap of $715.43 million, a price-to-earnings ratio of 20.10 and a beta of 1.08.

Shutterstock (NYSE:SSTK - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $254.16 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The business's quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a yield of 6.44%. This is an increase from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is presently 130.69%.

Hedge Funds Weigh In On Shutterstock

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSTK. Truvestments Capital LLC purchased a new stake in shares of Shutterstock in the third quarter valued at approximately $31,000. Amundi boosted its position in shares of Shutterstock by 26.2% during the 4th 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 position in shares of Shutterstock by 167.6% during the 4th 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 4th quarter worth $108,000. Finally, Palouse Capital Management Inc. increased its holdings in shares of Shutterstock by 13.7% in the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock valued at $132,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company's stock.

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.