Shutterstock (NYSE:SSTK) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Shutterstock (NYSE:SSTK) from a hold rating to a sell rating in a research report sent to investors on Saturday.

SSTK has been the subject of a number of other research reports. Zacks Research upgraded Shutterstock from a “strong sell” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.00.

Shutterstock Stock Up 3.3%

Shutterstock stock opened at $16.70 on Friday. The business has a fifty day moving average of $16.87 and a two-hundred day moving average of $19.03. The company has a quick ratio of 0.54, a current ratio of 0.51 and a debt-to-equity ratio of 0.22. The firm has a market cap of $613.56 million, a P/E ratio of -28.79 and a beta of 1.11. Shutterstock has a twelve month low of $14.36 and a twelve month high of $29.50.

Shutterstock (NYSE:SSTK) last posted its earnings results on Tuesday, February 17th. The business services provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.38). The company had revenue of $220.22 million for the quarter, compared to analysts’ expectations of $252.28 million. Shutterstock had a positive return on equity of 14.12% and a negative net margin of 2.19%.The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. On average, analysts forecast that Shutterstock will post 2.73 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Thursday, June 4th. Shutterstock’s dividend payout ratio is currently -248.28%.

Institutional Trading of Shutterstock

Hedge funds and other institutional investors have recently made changes to their positions in the business. WealthCollab LLC lifted its holdings in shares of Shutterstock by 106.3% during the 2nd 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 during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Shutterstock by 150.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,772 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 1,065 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Shutterstock by 31.5% during the 3rd quarter. Covestor Ltd now owns 2,951 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 707 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Shutterstock by 72.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,297 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Byrne Asset Management LLC lifted its holdings in shares of Shutterstock by 10.7% during the 3rd quarter. Byrne Asset Management LLC now owns 4,272 shares of the business services provider’s stock valued at $89,000 after purchasing an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 82.79% of the company’s stock.

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.