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

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. Truist Financial decreased their price objective 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. Morgan Stanley dropped their target price on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 21st. Finally, StockNews.com raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Wednesday, December 25th.

Shutterstock Price 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 firm has a market capitalization of $1.03 billion, a PE ratio of 28.84 and a beta of 1.08. The company has a 50-day moving average price of $31.48 and a 200-day moving average price of $34.39.

Shutterstock (NYSE:SSTK) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.25. The company had revenue of $250.59 million for the quarter, compared to analyst estimates of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. Sell-side analysts forecast that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.30 per share. The ex-dividend date was Friday, November 29th. This represents a $1.20 dividend on an annualized basis and a yield of 4.08%. Shutterstock’s dividend payout ratio (DPR) is currently 117.65%.

Hedge Funds Weigh In On Shutterstock

Several large investors have recently added to or reduced their stakes in SSTK. Franklin Resources Inc. raised its stake in Shutterstock by 6.2% during the third quarter. Franklin Resources Inc. now owns 15,413 shares of the business services provider’s stock worth $545,000 after purchasing an additional 894 shares during the period. Barclays PLC raised its position in shares of Shutterstock by 238.6% in the 3rd quarter. Barclays PLC now owns 50,565 shares of the business services provider’s stock worth $1,788,000 after buying an additional 35,632 shares during the period. Geode Capital Management LLC boosted its holdings in Shutterstock by 4.6% in the third quarter. Geode Capital Management LLC now owns 573,128 shares of the business services provider’s stock valued at $20,275,000 after acquiring an additional 25,050 shares during the last quarter. XTX Topco Ltd grew its position in Shutterstock by 97.3% during the third quarter. XTX Topco Ltd now owns 16,524 shares of the business services provider’s stock valued at $584,000 after acquiring an additional 8,151 shares during the period. Finally, National Bank of Canada FI increased its stake in Shutterstock by 74.0% during the third quarter. National Bank of Canada FI now owns 9,549 shares of the business services provider’s stock worth $338,000 after acquiring an additional 4,061 shares during the last quarter. 82.79% of the stock is currently owned by hedge funds and other 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.