Shutterstock (NYSE:SSTK) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Shares of Shutterstock, Inc. (NYSE:SSTK) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $20.15 and traded as low as $16.51. Shutterstock shares last traded at $16.78, with a volume of 460,460 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Shutterstock currently has an average rating of “Hold” and an average target price of $25.00.

Shutterstock Price Performance

The stock’s 50 day moving average price is $18.08 and its 200-day moving average price is $20.15. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $596.53 million, a PE ratio of 13.01 and a beta of 1.23.

Shutterstock (NYSE:SSTK) last posted its quarterly earnings results on Tuesday, February 17th. The business services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.38). Shutterstock had a return on equity of 16.13% and a net margin of 4.60%.The company had revenue of $220.22 million during the quarter, compared to analysts’ expectations of $252.28 million. During the same period in the prior year, the business earned $0.67 EPS. The company’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, equities analysts forecast that Shutterstock, Inc. will post 3.12 EPS for the current year.

Shutterstock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from Shutterstock’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 5th. Shutterstock’s dividend payout ratio is 111.63%.

Institutional Trading of Shutterstock

A number of large investors have recently modified their holdings of SSTK. LSV Asset Management grew its stake in Shutterstock by 1.1% in the third quarter. LSV Asset Management now owns 1,601,253 shares of the business services provider’s stock worth $33,386,000 after purchasing an additional 16,700 shares in the last quarter. Callodine Capital Management LP raised its position in Shutterstock by 34.5% during the 4th quarter. Callodine Capital Management LP now owns 1,033,963 shares of the business services provider’s stock valued at $19,749,000 after purchasing an additional 265,258 shares in the last quarter. State Street Corp lifted its holdings in shares of Shutterstock by 2.2% in the 4th quarter. State Street Corp now owns 966,891 shares of the business services provider’s stock worth $18,468,000 after buying an additional 20,961 shares during the period. Alpine Associates Management Inc. grew its position in shares of Shutterstock by 23.4% during the 3rd quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock worth $18,816,000 after buying an additional 171,375 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Shutterstock by 229.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 804,655 shares of the business services provider’s stock worth $15,369,000 after buying an additional 560,617 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.