Shutterstock, Inc. (NYSE:SSTK – Get Free Report) crossed 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 changing hands.
Analyst Ratings Changes
Several research analysts have recently commented on SSTK shares. Wall Street Zen cut shares of Shutterstock from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Zacks Research lowered Shutterstock from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 11th. Finally, Citigroup raised Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a report on Friday, June 5th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $7.00.
View Our Latest Analysis on Shutterstock
Shutterstock Price Performance
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 given a dividend of $0.36 per share. The ex-dividend date was Thursday, June 4th. This represents a $1.44 annualized dividend and a dividend yield of 16.3%. Shutterstock’s dividend payout ratio (DPR) is currently -248.28%.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its stake in Shutterstock by 229.7% during the fourth 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 during the last quarter. Callodine Capital Management LP boosted its holdings in shares of Shutterstock by 86.0% in the 3rd quarter. Callodine Capital Management LP now owns 768,705 shares of the business services provider’s stock valued at $16,027,000 after purchasing an additional 355,478 shares in the last quarter. Millennium Management LLC increased its stake 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 purchasing an additional 327,203 shares during the last quarter. UBS Group AG increased its stake in shares of Shutterstock by 72.7% in the 3rd quarter. UBS Group AG now owns 547,241 shares of the business services provider’s stock valued at $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 position in shares of Shutterstock during the 4th quarter worth $3,763,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.
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.
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