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

Shutterstock, Inc. (NYSE:SSTK) 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.

Analyst Upgrades and Downgrades

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

Shutterstock Trading Down 2.5 %

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 company has a market capitalization of $632.98 million, a P/E ratio of 17.78 and a beta of 1.12. The firm’s 50-day moving average price is $24.04 and its 200 day moving average price is $29.06.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data 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). Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company had revenue of $250.30 million for the quarter, compared to the consensus estimate of $254.16 million. During the same period in the prior year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, equities research analysts predict 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 was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $1.32 annualized dividend and a dividend yield of 7.28%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is currently 130.69%.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently modified their holdings of SSTK. Amundi increased its position in shares of Shutterstock by 26.2% during the fourth quarter. Amundi now owns 2,350 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 488 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in 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 valued at $76,000 after purchasing an additional 1,565 shares during the period. R Squared Ltd purchased a new stake in shares of Shutterstock during the 4th quarter valued at $108,000. Palouse Capital Management Inc. raised its stake in shares of Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after purchasing an additional 525 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Shutterstock in the 4th quarter worth about $134,000. Hedge funds and other institutional investors 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.