Shutterstock (NYSE:SSTK) Sets New 12-Month Low – What’s Next?

Shutterstock, Inc. (NYSE:SSTK) hit a new 52-week low on Tuesday . The company traded as low as $27.08 and last traded at $27.52, with a volume of 157426 shares changing hands. The stock had previously closed at $28.70.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a report on Monday, January 6th. StockNews.com began coverage on Shutterstock in a research report on Wednesday. They set a “hold” rating for the company. Needham & Company LLC reduced their price objective on Shutterstock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Truist Financial reduced their price objective on Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.33.

Shutterstock Stock Down 2.3 %

The firm has a market cap of $917.86 million, a price-to-earnings ratio of 25.81 and a beta of 1.08. 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 stock has a 50-day moving average of $30.10 and a 200-day moving average of $32.09.

Shutterstock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Thursday, March 6th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s payout ratio is 117.65%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Shutterstock during the 3rd quarter worth $31,000. Amundi boosted its position in Shutterstock by 26.2% during the 4th quarter. Amundi now owns 2,350 shares of the business services provider’s stock worth $71,000 after acquiring an additional 488 shares during the period. PNC Financial Services Group Inc. boosted its position in Shutterstock by 167.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,499 shares of the business services provider’s stock worth $76,000 after acquiring an additional 1,565 shares during the period. R Squared Ltd acquired a new position in Shutterstock during the 4th quarter worth $108,000. Finally, Palouse Capital Management Inc. boosted its position in Shutterstock by 13.7% during the 4th quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock worth $132,000 after acquiring an additional 525 shares during the period. Institutional investors and hedge funds 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.