Shutterstock (NYSE:SSTK) Hits New 1-Year Low – Should You Sell?

Shutterstock, Inc. (NYSE:SSTK)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $18.61 and last traded at $18.83, with a volume of 86618 shares changing hands. The stock had previously closed at $19.22.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Truist Financial downgraded Shutterstock from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Needham & Company LLC cut their price target on shares of Shutterstock from $45.00 to $30.00 and set a “buy” rating for the company in a report on Friday, March 7th. JMP Securities restated a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Finally, StockNews.com initiated coverage on Shutterstock in a research note on Sunday, March 23rd. They set a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.33.

Shutterstock Stock Performance

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 market capitalization of $642.82 million, a price-to-earnings ratio of 18.06 and a beta of 1.12. The stock’s 50 day moving average is $25.06 and its 200 day moving average is $29.51.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, February 25th. The business services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.25). The firm had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $254.16 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. Shutterstock’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. On average, analysts predict that Shutterstock, Inc. will post 3.12 earnings per share for the current year.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.33 dividend. The ex-dividend date was Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 7.17%. Shutterstock’s dividend payout ratio is currently 130.69%.

Hedge Funds Weigh In On Shutterstock

Several institutional investors have recently made changes to their positions in SSTK. Truvestments Capital LLC acquired a new position in shares of Shutterstock in the 3rd quarter worth $31,000. Amundi lifted 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 last quarter. PNC Financial Services Group Inc. boosted its stake 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 valued at $76,000 after purchasing an additional 1,565 shares during the period. R Squared Ltd bought a new position in Shutterstock during the fourth quarter valued at about $108,000. Finally, Palouse Capital Management Inc. increased its position in shares of Shutterstock by 13.7% during the fourth quarter. Palouse Capital Management Inc. now owns 4,357 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 525 shares during the period. 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.