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

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

Wall Street Analyst Weigh In

SSTK has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of Shutterstock in a research report on Tuesday, February 11th. They set a “hold” rating on the stock. JMP Securities reissued a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC dropped their target price on shares of Shutterstock from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial dropped their target price on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shutterstock presently has an average rating of “Hold” and a consensus price target of $50.33.

Shutterstock Price Performance

The firm’s fifty day moving average price is $30.42 and its 200 day moving average price is $32.25. The firm has a market capitalization of $976.81 million, a PE ratio of 27.47 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.

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. This is an increase from Shutterstock’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, March 6th. Shutterstock’s dividend payout ratio is 129.41%.

Institutional Trading of Shutterstock

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership purchased a new stake in Shutterstock during the fourth quarter worth $9,903,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Shutterstock during the third quarter worth $8,493,000. Dimensional Fund Advisors LP boosted its holdings in Shutterstock by 22.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,018,231 shares of the business services provider’s stock worth $30,904,000 after buying an additional 189,015 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings 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. Finally, Invenomic Capital Management LP boosted its holdings in Shutterstock by 28.1% during the fourth quarter. Invenomic Capital Management LP now owns 601,490 shares of the business services provider’s stock worth $18,255,000 after buying an additional 132,055 shares in the last quarter. 82.79% of the stock is 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.