Shutterstock (NYSE:SSTK) Sets New 12-Month Low - Should You Sell?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.06 and last traded at $24.80, with a volume of 11291 shares changing hands. The stock had previously closed at $25.41.

Analysts Set New Price Targets

Several research firms have issued reports on SSTK. Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a report on Tuesday. JMP Securities restated a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. StockNews.com initiated coverage on Shutterstock in a research report on Thursday. They issued a "hold" rating on the stock. Finally, Needham & Company LLC lowered their price objective on Shutterstock from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Shutterstock currently has an average rating of "Hold" and a consensus price target of $50.33.

Shutterstock Stock Down 3.5 %

The company has a 50-day moving average price of $29.49 and a 200 day moving average price of $31.68. The firm has a market capitalization of $766.77 million, a PE ratio of 21.56 and a beta of 1.08. 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 - Get Free Report) last posted its earnings results on Tuesday, February 25th. The business services provider reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.25). The firm had revenue of $250.30 million during the quarter, compared to analysts' expectations of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. Shutterstock's quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Analysts forecast that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The company also recently announced 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. This is an increase from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock's payout ratio is currently 130.69%.

Institutional Investors Weigh In On Shutterstock

A number of hedge funds have recently made changes to their positions in SSTK. Truvestments Capital LLC purchased a new stake in shares of Shutterstock in the third quarter worth about $31,000. Amundi lifted its position in shares of 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 buying an additional 488 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 buying an additional 1,565 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Shutterstock in the fourth quarter worth about $108,000. Finally, Palouse Capital Management Inc. raised its position in Shutterstock by 13.7% during the fourth 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 during the period. 82.79% of the stock is currently 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.