Shutterstock (NYSE:SSTK) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Shutterstock (NYSE:SSTK) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other research firms have also commented on SSTK. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a report on Wednesday, October 8th. Wall Street Zen cut Shutterstock from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.00.

Shutterstock Price Performance

Shutterstock stock opened at $19.57 on Monday. The firm has a market capitalization of $695.04 million, a PE ratio of 11.65 and a beta of 1.27. The firm has a 50-day moving average price of $22.34 and a 200-day moving average price of $20.62. Shutterstock has a 12-month low of $14.35 and a 12-month high of $38.80. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20.

Shutterstock (NYSE:SSTK) last announced 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). Shutterstock had a net margin of 5.89% and a return on equity of 16.30%. The company had revenue of $260.09 million for the quarter, compared to the consensus estimate of $255.60 million. During the same quarter in the previous year, the business earned $1.31 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $0.33 dividend. The ex-dividend date is Thursday, December 4th. This represents a $1.32 annualized dividend and a yield of 6.7%. Shutterstock’s dividend payout ratio is 78.57%.

Hedge Funds Weigh In On Shutterstock

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Shutterstock during the 1st quarter valued at approximately $335,000. Performa Ltd US LLC acquired a new stake in Shutterstock in the 1st quarter worth about $25,000. Charles Schwab Investment Management Inc. grew its holdings in Shutterstock by 12.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 395,906 shares of the business services provider’s stock valued at $7,376,000 after purchasing an additional 44,702 shares during the period. Invesco Ltd. increased its holdings in shares of Shutterstock by 25.6% during the 1st quarter. Invesco Ltd. now owns 127,740 shares of the business services provider’s stock worth $2,380,000 after buying an additional 26,029 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Shutterstock in the 1st quarter worth about $537,000. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

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.