Shutterstock (NYSE:SSTK) Shares Down 4% – Should You Sell?

Shutterstock, Inc. (NYSE:SSTK)’s share price traded down 4% during mid-day trading on Monday . The company traded as low as $30.17 and last traded at $30.21. 99,404 shares changed hands during trading, a decline of 85% from the average session volume of 658,323 shares. The stock had previously closed at $31.47.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Shutterstock from $58.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 21st. Truist Financial cut their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Shutterstock in a report on Tuesday, October 29th. StockNews.com upgraded shares of Shutterstock from a “hold” rating to a “buy” rating in a research report on Wednesday, December 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Shutterstock has an average rating of “Moderate Buy” and an average target price of $53.67.

Shutterstock Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.42 and a current ratio of 0.42. The company has a 50 day moving average of $31.53 and a two-hundred day moving average of $34.29. The stock has a market cap of $1.06 billion, a PE ratio of 29.92 and a beta of 1.08.

Shutterstock (NYSE:SSTK) last released its quarterly 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 firm had revenue of $250.59 million for the quarter, compared to analysts’ expectations of $240.90 million. Shutterstock had a net margin of 4.03% and a return on equity of 20.39%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. Sell-side analysts anticipate that Shutterstock, Inc. will post 3.07 earnings per share for the current fiscal year.

Shutterstock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.93%. The ex-dividend date was Friday, November 29th. Shutterstock’s payout ratio is 117.65%.

Institutional Investors Weigh In On Shutterstock

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC acquired a new position in Shutterstock during the third quarter worth $31,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Shutterstock by 31,733.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 952 shares during the period. Quarry LP grew its holdings in shares of Shutterstock by 313.0% in the second quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 842 shares during the period. Headlands Technologies LLC increased its position in Shutterstock by 1,339.2% during the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares during the last quarter. Finally, Palouse Capital Management Inc. raised its stake in Shutterstock by 20.7% during the second quarter. Palouse Capital Management Inc. now owns 3,877 shares of the business services provider’s stock worth $150,000 after purchasing an additional 665 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.