Shutterstock (NYSE:SSTK) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Shutterstock, Inc. (NYSE:SSTK) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.70 and traded as low as $18.33. Shutterstock shares last traded at $18.5350, with a volume of 230,468 shares traded.

Analyst Ratings Changes

SSTK has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research cut Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

Shutterstock Trading Down 2.0%

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $21.51 and a 200-day simple moving average of $20.70. The company has a market cap of $658.18 million, a PE ratio of 11.03 and a beta of 1.27.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.48). The firm had revenue of $260.09 million during the quarter, compared to analyst estimates of $255.60 million. Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, analysts predict that Shutterstock, Inc. will post 3.12 EPS for the current fiscal year.

Shutterstock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Thursday, December 4th. Shutterstock’s payout ratio is currently 78.57%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WealthCollab LLC grew its holdings in shares of Shutterstock by 106.3% in the second quarter. WealthCollab LLC now owns 1,452 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 748 shares in the last quarter. Signaturefd LLC boosted its position in Shutterstock by 10,268.8% in the 2nd quarter. Signaturefd LLC now owns 1,659 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,643 shares during the period. Osaic Holdings Inc. boosted its position in Shutterstock by 150.6% in the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after buying an additional 1,065 shares during the period. EMC Capital Management acquired a new position in shares of Shutterstock in the second quarter worth $36,000. Finally, GAMMA Investing LLC grew its stake in shares of Shutterstock by 71.8% in the second quarter. GAMMA Investing LLC now owns 1,996 shares of the business services provider’s stock worth $38,000 after acquiring an additional 834 shares in the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

About Shutterstock

Shutterstock, Inc (NYSE:SSTK) operates a leading global creative platform that provides royalty-free stock content to businesses, marketing agencies and media outlets. Its primary offerings include high-resolution photographs, vector graphics, illustrations, video footage and music tracks, all available through subscription plans or on-demand licensing. The platform also features customizable design tools and collaborative workspaces that enable customers to create and manage visual content more efficiently.

Founded in 2003 by Jon Oringer, Shutterstock began as an online marketplace offering a modest selection of images and quickly scaled its library to hundreds of millions of assets.