Shutterstock (NYSE:SSTK) Sets New 52-Week Low - Should You Sell?

Shutterstock, Inc. (NYSE:SSTK - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $27.08 and last traded at $27.52, with a volume of 157426 shares trading hands. The stock had previously closed at $28.70.

Analysts Set New Price Targets

Several brokerages have recently commented on SSTK. Truist Financial lowered their price objective on shares of Shutterstock from $65.00 to $56.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Needham & Company LLC cut their price objective 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 restated a "market perform" rating on shares of Shutterstock in a report on Monday, January 6th. Finally, StockNews.com assumed coverage on shares of Shutterstock in a report on Wednesday. They set a "hold" rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $50.33.

Shutterstock Trading Down 3.7 %

The company has a market cap of $883.11 million, a P/E ratio of 24.84 and a beta of 1.08. The stock's 50-day moving average is $30.10 and its two-hundred day moving average is $32.09. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.33 dividend. The ex-dividend date is Thursday, March 6th. This is an increase from Shutterstock's previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 5.21%. Shutterstock's dividend payout ratio (DPR) is presently 117.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC bought a new position in Shutterstock in the third quarter worth approximately $31,000. Amundi raised its position in 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 acquiring an additional 488 shares during the period. PNC Financial Services Group Inc. raised its position in 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 acquiring an additional 1,565 shares during the period. R Squared Ltd bought a new position in Shutterstock in the fourth quarter worth approximately $108,000. Finally, Palouse Capital Management Inc. raised its position in Shutterstock by 13.7% in the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider's stock worth $132,000 after acquiring an additional 525 shares during the period. 82.79% of the stock is currently owned by 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.