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

Shutterstock, Inc. (NYSE:SSTK) hit a new 52-week low 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.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC decreased 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 began coverage on Shutterstock in a research report on Wednesday, February 19th. They set a “hold” rating for the company. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. Finally, Truist Financial downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.33.

Shutterstock Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.42 and a quick ratio of 0.42. The company has a 50 day simple moving average of $29.82 and a 200-day simple moving average of $31.84. The stock has a market capitalization of $795.70 million, a P/E ratio of 22.38 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.25). Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The business 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 firm earned $0.72 EPS. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, equities analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The business 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. The ex-dividend date is Thursday, March 6th. This represents a $1.32 annualized dividend and a yield of 5.78%. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio (DPR) is currently 129.41%.

Institutional Investors Weigh In On Shutterstock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in Shutterstock by 11,862.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 114,241 shares of the business services provider’s stock worth $4,041,000 after acquiring an additional 113,286 shares during the period. Assenagon Asset Management S.A. bought a new stake in Shutterstock during the third quarter valued at $2,018,000. Rice Hall James & Associates LLC grew its position in Shutterstock by 40.7% during the third quarter. Rice Hall James & Associates LLC now owns 529,387 shares of the business services provider’s stock worth $18,724,000 after buying an additional 153,154 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Shutterstock by 97.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 26,536 shares of the business services provider’s stock worth $939,000 after acquiring an additional 13,088 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of 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 acquiring an additional 18,174 shares in the last quarter. 82.79% of the stock is currently owned by institutional investors.

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.