Shutterstock (NYSE:SSTK) Share Price Passes Below 200-Day Moving Average – What’s Next?

Shutterstock, Inc. (NYSE:SSTK)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.94 and traded as low as $13.95. Shutterstock shares last traded at $14.0610, with a volume of 338,111 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SSTK. Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, June 5th. Weiss Ratings cut Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Wall Street Zen downgraded Shutterstock from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Zacks Research lowered Shutterstock from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Shutterstock presently has an average rating of “Reduce” and an average price target of $7.00.

Shutterstock Stock Down 1.0%

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22. The business’s 50-day simple moving average is $15.42 and its 200-day simple moving average is $16.94. The company has a market capitalization of $516.60 million, a PE ratio of -24.24 and a beta of 1.07.

Shutterstock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend was Thursday, June 4th. Shutterstock’s dividend payout ratio (DPR) is -248.28%.

Institutional Investors Weigh In On Shutterstock

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Callodine Capital Management LP lifted its holdings in shares of Shutterstock by 86.0% in the 3rd quarter. Callodine Capital Management LP now owns 768,705 shares of the business services provider’s stock valued at $16,027,000 after buying an additional 355,478 shares during the period. Union Square Park Capital Management LLC purchased a new position in Shutterstock during the fourth quarter valued at approximately $2,101,000. Unison Advisors LLC purchased a new position in Shutterstock during the fourth quarter valued at approximately $730,000. Byrne Asset Management LLC lifted its holdings in Shutterstock by 52.2% in the fourth quarter. Byrne Asset Management LLC now owns 6,500 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 2,228 shares during the period. Finally, Quantbot Technologies LP boosted its position in Shutterstock by 14.3% in the 3rd quarter. Quantbot Technologies LP now owns 24,832 shares of the business services provider’s stock worth $518,000 after purchasing an additional 3,102 shares in the last quarter. 82.79% of the stock is owned by institutional investors and hedge funds.

Shutterstock Company Profile

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.