Shutterstock (NYSE:SSTK) Sets New 52-Week Low – What’s Next?

Shutterstock, Inc. (NYSE:SSTK) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $28.65 and last traded at $28.90, with a volume of 45736 shares traded. The stock had previously closed at $29.17.

Analyst Ratings Changes

A number of analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a research note on Tuesday, October 29th. Morgan Stanley reduced their price target on Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Truist Financial dropped their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a research note on Wednesday, December 25th.

Shutterstock Stock Up 7.9 %

The firm has a market cap of $1.10 billion, a P/E ratio of 30.85 and a beta of 1.08. The firm’s fifty day moving average is $31.53 and its 200 day moving average is $34.33. 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 earnings results on Tuesday, October 29th. The business services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.06 by $0.25. The company had revenue of $250.59 million for the quarter, compared to the consensus estimate of $240.90 million. Shutterstock had a return on equity of 20.39% and a net margin of 4.03%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. As a group, equities research analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.30 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.81%. Shutterstock’s payout ratio is presently 117.65%.

Hedge Funds Weigh In On Shutterstock

Hedge funds have recently bought and sold shares of the business. TD Asset Management Inc increased its holdings in shares of Shutterstock by 13.7% during the second quarter. TD Asset Management Inc now owns 1,793,925 shares of the business services provider’s stock worth $69,425,000 after purchasing an additional 215,539 shares during the period. Epoch Investment Partners Inc. increased its stake in Shutterstock by 22.8% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,085,539 shares of the business services provider’s stock worth $42,010,000 after acquiring an additional 201,391 shares during the period. State Street Corp increased its stake in Shutterstock by 1.4% during the 3rd quarter. State Street Corp now owns 966,694 shares of the business services provider’s stock worth $34,192,000 after acquiring an additional 13,039 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Shutterstock by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 869,469 shares of the business services provider’s stock valued at $33,648,000 after acquiring an additional 34,243 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Shutterstock by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock worth $20,275,000 after purchasing an additional 25,050 shares in the last quarter. 82.79% of the stock is 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.