Shutterstock (NYSE:SSTK) Hits New 52-Week Low – What’s Next?

Shutterstock, Inc. (NYSE:SSTK)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $17.17 and last traded at $18.75, with a volume of 764323 shares. The stock had previously closed at $17.79.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com initiated coverage on Shutterstock in a research note on Monday. They issued a “hold” rating for the company. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Needham & Company LLC dropped their price objective on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.33.

Shutterstock Price Performance

The firm has a market cap of $654.09 million, a P/E ratio of 18.38 and a beta of 1.12. The company has a fifty day moving average of $24.55 and a 200-day moving average of $29.24. 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) last posted its earnings results 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 return on equity of 20.39% and a net margin of 4.03%. The firm had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same quarter in the previous year, the company earned $0.72 EPS. The business’s revenue was up 15.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 7.04%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is currently 130.69%.

Institutional Trading of Shutterstock

Institutional investors and hedge funds have recently modified their holdings of the business. Amundi boosted 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 purchasing an additional 488 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Shutterstock by 167.6% in the 4th 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 during the last quarter. R Squared Ltd bought a new position in Shutterstock during the fourth quarter valued at about $108,000. 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. Finally, KLP Kapitalforvaltning AS bought a new stake in Shutterstock in the fourth quarter worth about $134,000. 82.79% of the stock is owned by hedge funds and other 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.