Shutterstock (NYSE:SSTK) Stock Passes Below 200 Day Moving Average – Should You Sell?

Shutterstock, Inc. (NYSE:SSTK) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.50 and traded as low as $8.65. Shutterstock shares last traded at $8.8530, with a volume of 980,324 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SSTK. Wall Street Zen cut Shutterstock from a “hold” rating to a “sell” rating in a report 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. Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Finally, Zacks Research downgraded Shutterstock from a “hold” rating to a “strong sell” rating in a report on Thursday, June 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $7.00.

Shutterstock Trading Down 2.7%

The company has a debt-to-equity ratio of 0.22, a current ratio of 0.51 and a quick ratio of 0.51. The business’s 50-day moving average is $14.00 and its two-hundred day moving average is $16.38. The firm has a market cap of $312.07 million, a P/E ratio of -14.64 and a beta of 1.06.

Shutterstock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $0.36 dividend. The ex-dividend date was Thursday, June 4th. This represents a $1.44 annualized dividend and a dividend yield of 17.0%. Shutterstock’s dividend payout ratio (DPR) is presently -248.28%.

Institutional Trading of Shutterstock

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Callodine Capital Management LP boosted its position in Shutterstock by 23.0% during the first quarter. Callodine Capital Management LP now owns 1,272,139 shares of the business services provider’s stock valued at $21,130,000 after purchasing an additional 238,176 shares during the last quarter. State Street Corp increased its position in shares of Shutterstock by 2.2% during the 4th quarter. State Street Corp now owns 966,891 shares of the business services provider’s stock worth $18,468,000 after purchasing an additional 20,961 shares during the last quarter. Balyasny Asset Management L.P. raised its stake 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 purchasing an additional 560,617 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Shutterstock by 7.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 733,662 shares of the business services provider’s stock worth $12,186,000 after purchasing an additional 50,200 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of 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. 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.