Shutterstock (NYSE:SSTK) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Shutterstock (NYSE:SSTK) from a buy rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Shutterstock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.

Shutterstock Stock Performance

NYSE SSTK traded down $0.57 during trading hours on Friday, hitting $21.41. The company’s stock had a trading volume of 211,914 shares, compared to its average volume of 448,072. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.53 and a quick ratio of 0.49. The company has a market cap of $760.09 million, a P/E ratio of 12.74 and a beta of 1.21. The company’s 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $20.23. Shutterstock has a 12 month low of $14.35 and a 12 month high of $38.80.

Shutterstock (NYSE:SSTK) last announced 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). The company had revenue of $260.09 million during the quarter, compared to the consensus estimate of $255.60 million. Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.31 earnings per share. As a group, sell-side analysts expect that Shutterstock will post 3.12 EPS for the current fiscal year.

Institutional Trading of Shutterstock

A number of hedge funds and other institutional investors have recently bought and sold shares of SSTK. LSV Asset Management lifted its position in shares of Shutterstock by 1.1% during the 3rd quarter. LSV Asset Management now owns 1,601,253 shares of the business services provider’s stock valued at $33,386,000 after buying an additional 16,700 shares in the last quarter. Alpine Associates Management Inc. boosted its position in shares of Shutterstock by 23.4% in the third quarter. Alpine Associates Management Inc. now owns 902,461 shares of the business services provider’s stock worth $18,816,000 after purchasing an additional 171,375 shares during the period. Invenomic Capital Management LP boosted its position in shares of Shutterstock by 47.1% in the first quarter. Invenomic Capital Management LP now owns 885,022 shares of the business services provider’s stock worth $16,488,000 after purchasing an additional 283,532 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of Shutterstock by 21.7% in the first quarter. Rice Hall James & Associates LLC now owns 666,348 shares of the business services provider’s stock worth $12,414,000 after purchasing an additional 118,828 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Shutterstock by 109.3% during 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 period. Hedge funds and other institutional investors own 82.79% of the company’s stock.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.