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

Shutterstock, Inc. (NYSE:SSTK) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $25.06 and last traded at $24.80, with a volume of 11291 shares. The stock had previously closed at $25.41.

Wall Street Analysts Forecast Growth

SSTK has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC reduced their target price on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 13th. StockNews.com initiated coverage on shares of Shutterstock in a research report on Wednesday, February 19th. They issued a “hold” rating on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average price target of $50.33.

Shutterstock Stock Down 3.0 %

The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average price of $29.96 and a 200-day moving average price of $31.93. The firm has a market cap of $859.50 million, a price-to-earnings ratio of 24.22 and a beta of 1.08.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.35%. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 6th. Shutterstock’s payout ratio is 129.41%.

Institutional Trading of Shutterstock

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSTK. Dimensional Fund Advisors LP grew its holdings in shares of Shutterstock by 22.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after buying an additional 189,015 shares in the last quarter. State Street Corp raised its holdings in Shutterstock by 1.4% in the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock valued at $34,192,000 after acquiring an additional 13,039 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Shutterstock by 18.1% during the 4th quarter. Royce & Associates LP now owns 831,626 shares of the business services provider’s stock worth $25,240,000 after purchasing an additional 127,399 shares during the period. Invenomic Capital Management LP boosted its holdings in shares of Shutterstock by 28.1% during the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after purchasing an additional 132,055 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Shutterstock by 4.6% in 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 during the period. Hedge funds and other 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.