Shutterstock (NYSE:SSTK) Reaches New 1-Year Low – Here’s Why

Shutterstock, Inc. (NYSE:SSTK)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $21.15 and last traded at $21.30, with a volume of 69790 shares traded. The stock had previously closed at $21.49.

Analysts Set New Price Targets

A number of research analysts have recently commented on SSTK shares. Truist Financial cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Needham & Company LLC dropped their price target on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com started coverage on Shutterstock in a research note on Thursday. They issued a “hold” rating on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Trading Down 0.7 %

The stock has a fifty day simple moving average of $29.16 and a 200 day simple moving average of $31.46. The firm has a market cap of $744.46 million, a P/E ratio of 20.93 and a beta of 1.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings data 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 company had revenue of $250.30 million during the quarter, compared to the consensus estimate of $254.16 million. During the same period last year, the business earned $0.72 EPS. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be paid a $0.33 dividend. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a yield of 6.19%. Shutterstock’s dividend payout ratio (DPR) is presently 130.69%.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently modified their holdings of the business. FMR LLC boosted its position in shares of Shutterstock by 397.5% in the 3rd quarter. FMR LLC now owns 39,193 shares of the business services provider’s stock worth $1,386,000 after purchasing an additional 31,315 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Shutterstock by 4.6% during the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after buying an additional 25,050 shares in the last quarter. Barclays PLC increased its holdings in Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after acquiring an additional 35,632 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Shutterstock during the 3rd quarter worth approximately $8,493,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in Shutterstock by 110.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 34,588 shares of the business services provider’s stock valued at $1,223,000 after purchasing an additional 18,174 shares in the last quarter. 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.