Shutterstock (NYSE:SSTK) Stock Price Passes Below 200-Day Moving Average – Here’s Why

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 trading hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on SSTK. Wall Street Zen downgraded Shutterstock from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Shutterstock currently has an average rating of “Hold” and an average price target of $25.00.

Shutterstock Trading Down 1.7%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $646.11 million, a price-to-earnings ratio of 10.83 and a beta of 1.27. The business has a 50 day simple moving average of $21.35 and a 200-day simple moving average of $20.68.

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

Shutterstock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $1.32 dividend on an annualized basis and a yield of 7.3%. Shutterstock’s payout ratio is presently 78.57%.

Institutional Investors Weigh In On Shutterstock

Several large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in Shutterstock by 12.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,906 shares of the business services provider’s stock valued at $7,376,000 after acquiring an additional 44,702 shares in the last quarter. Invesco Ltd. raised its stake in shares of Shutterstock by 25.6% in the 1st quarter. Invesco Ltd. now owns 127,740 shares of the business services provider’s stock valued at $2,380,000 after purchasing an additional 26,029 shares during the period. Nuveen LLC bought a new stake in shares of Shutterstock in the first quarter valued at about $1,587,000. Hsbc Holdings PLC boosted its position in shares of Shutterstock by 113.2% during the first quarter. Hsbc Holdings PLC now owns 19,267 shares of the business services provider’s stock worth $347,000 after buying an additional 10,228 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in shares of Shutterstock during the first quarter worth about $393,000. 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.