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

Shutterstock, Inc. (NYSE:SSTK)’s stock price fell 4% during mid-day trading on Monday . The stock 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.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SSTK shares. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Shutterstock in a report on Tuesday, October 29th. JMP Securities reiterated a “market perform” rating on shares of Shutterstock in a research note on Monday. StockNews.com downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a research report on Monday. Truist Financial lowered their price objective on shares of Shutterstock from $65.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Shutterstock has a consensus rating of “Hold” and an average price target of $53.67.

Shutterstock Trading Down 11.7 %

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 market cap of $1.06 billion, a price-to-earnings ratio of 29.88 and a beta of 1.08. The company’s fifty day moving average is $31.57 and its two-hundred day moving average is $34.16.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.25. The firm 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 business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, research analysts anticipate that Shutterstock, Inc. will post 3.07 EPS for the current year.

Shutterstock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Friday, November 29th. Shutterstock’s dividend payout ratio (DPR) is 117.65%.

Hedge Funds Weigh In On Shutterstock

Several large investors have recently made changes to their positions in SSTK. Truvestments Capital LLC purchased a new position in Shutterstock during the third quarter worth approximately $31,000. Allspring Global Investments Holdings LLC grew its stake in Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 952 shares during the period. Quarry LP increased its holdings in Shutterstock by 313.0% in the 2nd quarter. Quarry LP now owns 1,111 shares of the business services provider’s stock worth $43,000 after acquiring an additional 842 shares in the last quarter. Headlands Technologies LLC increased its holdings in Shutterstock by 1,339.2% in the 2nd quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after acquiring an additional 3,107 shares in the last quarter. Finally, Palouse Capital Management Inc. raised its position 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 acquiring an additional 665 shares during the period. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.