Shutterstock (NYSE:SSTK) Reaches New 52-Week Low – Time to Sell?

Shares of Shutterstock, Inc. (NYSE:SSTK) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.15 and last traded at $21.30, with a volume of 69790 shares trading hands. The stock had previously closed at $21.49.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SSTK. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research note on Monday, January 6th. Truist Financial cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. StockNews.com assumed coverage on shares of Shutterstock in a report on Thursday, February 27th. They issued a “hold” rating for the company. Finally, Needham & Company LLC decreased their price target on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.33.

Shutterstock Stock Down 0.5 %

The business has a 50-day simple moving average of $28.79 and a 200-day simple moving average of $31.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market cap of $724.40 million, a price-to-earnings ratio of 20.35 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results 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). The firm had revenue of $250.30 million for the quarter, compared to analyst estimates of $254.16 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The company’s revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. On average, equities analysts anticipate that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is presently 130.69%.

Hedge Funds Weigh In On Shutterstock

Several hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Shutterstock in the 4th quarter valued at $2,716,000. Mackenzie Financial Corp purchased a new stake in Shutterstock in the fourth quarter valued at $552,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Shutterstock by 13.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,769 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 7,023 shares during the last quarter. Vident Advisory LLC boosted its stake in Shutterstock by 9.1% in the fourth quarter. Vident Advisory LLC now owns 15,857 shares of the business services provider’s stock valued at $481,000 after acquiring an additional 1,321 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Shutterstock by 83.9% during the fourth quarter. Squarepoint Ops LLC now owns 77,212 shares of the business services provider’s stock worth $2,343,000 after purchasing an additional 35,235 shares during the last quarter. 82.79% of the stock is currently 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.