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

Shares of Shutterstock, Inc. (NYSE:SSTK - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $19.13 and last traded at $19.50, with a volume of 327926 shares traded. The stock had previously closed at $19.41.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SSTK. JMP Securities reiterated a "market perform" rating on shares of Shutterstock in a research report on Monday, January 6th. StockNews.com began coverage on shares of Shutterstock in a report on Saturday, March 15th. They set a "hold" rating on the stock. Needham & Company LLC cut their price objective on shares of Shutterstock from $45.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Finally, Truist Financial lowered Shutterstock from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Shutterstock presently has a consensus rating of "Hold" and an average price target of $45.33.

Shutterstock Stock Up 0.2 %

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's 50 day simple moving average is $26.18 and its 200 day simple moving average is $30.05. The firm has a market cap of $682.18 million, a P/E ratio of 19.17 and a beta of 1.12.

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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 the consensus estimate of $254.16 million. During the same period in the previous year, the firm earned $0.72 earnings per share. The company's revenue was up 15.2% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Thursday, March 6th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend was Thursday, March 6th. This is a positive change from Shutterstock's previous quarterly dividend of $0.30. Shutterstock's dividend payout ratio (DPR) is currently 130.69%.

Institutional Investors Weigh In On Shutterstock

Institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in Shutterstock by 397.5% during the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider's stock worth $1,386,000 after acquiring an additional 31,315 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider's stock valued at $20,275,000 after purchasing an additional 25,050 shares in the last quarter. Barclays PLC lifted its position in shares of Shutterstock by 238.6% during the third quarter. Barclays PLC now owns 50,565 shares of the business services provider's stock valued at $1,788,000 after purchasing an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Shutterstock during the third quarter worth about $8,493,000. Finally, Weiss Asset Management LP bought a new stake in Shutterstock in the 3rd quarter worth about $833,000. Institutional investors own 82.79% of the company's stock.

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.