Shutterstock (NYSE:SSTK) Reaches New 12-Month Low – Time to Sell?

Shutterstock, Inc. (NYSE:SSTK) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $25.06 and last traded at $24.80, with a volume of 11291 shares. The stock had previously closed at $25.41.

Wall Street Analyst Weigh In

SSTK has been the subject of several research analyst reports. Truist Financial dropped their price target on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Shutterstock in a research report on Monday, January 6th. Needham & Company LLC lowered their price target 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, StockNews.com assumed coverage on Shutterstock in a research note on Wednesday, February 19th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Shutterstock has a consensus rating of “Hold” and a consensus price target of $50.33.

Shutterstock Trading Down 3.0 %

The business’s 50-day moving average is $29.96 and its two-hundred day moving average is $31.93. 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 $859.50 million, a PE ratio of 24.22 and a beta of 1.08.

Shutterstock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Thursday, March 6th. This is a boost from Shutterstock’s previous quarterly dividend of $0.30. Shutterstock’s dividend payout ratio is currently 129.41%.

Institutional Trading of Shutterstock

Several large investors have recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Shutterstock in the 3rd quarter worth $31,000. Amundi increased its position in shares of Shutterstock by 26.2% during the fourth 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. lifted its stake in shares of Shutterstock by 167.6% in the fourth 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 in the last quarter. R Squared Ltd purchased a new position in Shutterstock in the fourth quarter valued at about $108,000. Finally, Palouse Capital Management Inc. grew its stake 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 valued at $132,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

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.