Shutterstock (NYSE:SSTK) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Shutterstock, Inc. (NYSE:SSTK) passed 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 trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on SSTK. Zacks Research upgraded shares of Shutterstock from a “strong sell” rating to a “hold” rating in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Shutterstock has an average rating of “Hold” and an average price target of $25.00.

Shutterstock Price Performance

The stock has a market capitalization of $579.43 million, a price-to-earnings ratio of 12.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.54 and a current ratio of 0.54. The company has a fifty day simple moving average of $17.97 and a two-hundred day simple moving average of $20.08.

Shutterstock (NYSE:SSTK) last released 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). Shutterstock had a net margin of 4.60% and a return on equity of 16.13%. The company had revenue of $220.22 million for the quarter, compared to the consensus estimate of $252.28 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s revenue was down 12.0% compared to the same quarter last year. As a group, equities research analysts expect that Shutterstock, Inc. will post 3.12 earnings per share for the current fiscal year.

Shutterstock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, March 5th. This is a positive change from Shutterstock’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 8.8%. Shutterstock’s dividend payout ratio is currently 111.63%.

Hedge Funds Weigh In On Shutterstock

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. boosted 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 acquiring an additional 560,617 shares in the last quarter. Callodine Capital Management LP acquired a new position in Shutterstock during the second quarter valued at approximately $7,835,000. Millennium Management LLC lifted its stake in Shutterstock by 109.3% during the first quarter. Millennium Management LLC now owns 626,615 shares of the business services provider’s stock worth $11,674,000 after purchasing an additional 327,203 shares during the last quarter. UBS Group AG lifted its stake in Shutterstock by 72.7% during the third quarter. UBS Group AG now owns 547,241 shares of the business services provider’s stock worth $11,410,000 after purchasing an additional 230,413 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Shutterstock in the 4th quarter valued at $3,763,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.

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.