Shutterstock (NYSE:SSTK) Sets New 12-Month Low – Should You Sell?

Shutterstock, Inc. (NYSE:SSTK)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $9.43 and last traded at $9.9050, with a volume of 4089728 shares changing hands. The stock had previously closed at $13.95.

Trending Headlines about Shutterstock

Here are the key news stories impacting Shutterstock this week:

• Negative Sentiment: Getty Images terminated the proposed $3.7 billion merger with Shutterstock after UK regulatory conditions made approval difficult, removing a potential acquisition premium for shareholders. Getty Images Plans to End Shutterstock Deal After U.K. Imposes Conditions
• Negative Sentiment: The deal breakup has pressured SSTK shares sharply in premarket and early trading as investors reassess the company’s standalone prospects. Shutterstock Shares Plunge 30% After Merger With Getty Is Called Off
• Negative Sentiment: Shutterstock now faces renewed concern about long-term growth and competition from AI-generated content providers after the merger was scrapped. Shutterstock shares crash 29% after Getty Images calls off 3.7 billion merger

Analyst Ratings Changes

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

Shutterstock Trading Down 29.0%

The company has a market cap of $363.91 million, a P/E ratio of -17.08 and a beta of 1.06. The business has a fifty day moving average price of $15.19 and a 200-day moving average price of $16.84. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.22.

Shutterstock Dividend Announcement

The company also recently declared 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 yield of 14.5%. The ex-dividend date of this dividend was Thursday, June 4th. Shutterstock’s dividend payout ratio (DPR) is presently -248.28%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Shutterstock by 12.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,901 shares of the business services provider’s stock worth $557,000 after acquiring an additional 3,263 shares during the period. Millennium Management LLC raised its holdings in Shutterstock by 109.3% in the 1st quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock valued at $11,674,000 after buying an additional 327,203 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Shutterstock by 22.4% during the second quarter. JPMorgan Chase & Co. now owns 115,117 shares of the business services provider’s stock worth $2,183,000 after purchasing an additional 21,083 shares during the period. Franklin Resources Inc. bought a new stake in Shutterstock in the second quarter valued at approximately $195,000. Finally, Prudential Financial Inc. increased its position in Shutterstock by 6.1% during the 2nd quarter. Prudential Financial Inc. now owns 25,824 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 1,490 shares during the period. 82.79% of the stock is owned by institutional investors.

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.