Shutterstock (SSTK) Hits New 1-Year Low at $36.95

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Shutterstock Inc (NYSE:SSTK) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $36.95 and last traded at $37.35, with a volume of 8374 shares. The stock had previously closed at $38.39.

Several research analysts recently issued reports on SSTK shares. SunTrust Banks reissued a “hold” rating and set a $48.00 target price on shares of Shutterstock in a report on Wednesday, August 1st. ValuEngine raised shares of Shutterstock from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Jefferies Financial Group reaffirmed a “sell” rating and issued a $44.00 price objective on shares of Shutterstock in a report on Thursday, August 2nd. Finally, Deutsche Bank cut their price objective on shares of Shutterstock from $50.00 to $35.00 and set a “hold” rating for the company in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.33.

The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 53.30, a price-to-earnings-growth ratio of 2.02 and a beta of 1.54.

Shutterstock (NYSE:SSTK) last released its quarterly earnings data on Tuesday, October 30th. The business services provider reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Shutterstock had a net margin of 6.82% and a return on equity of 8.76%. The company had revenue of $151.60 million during the quarter, compared to analysts’ expectations of $157.88 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Shutterstock Inc will post 0.87 EPS for the current year.

In other news, insider Martin Brodbeck sold 4,813 shares of Shutterstock stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $51.18, for a total value of $246,329.34. Following the sale, the insider now owns 55,101 shares in the company, valued at $2,820,069.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas R. Evans sold 10,000 shares of Shutterstock stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $51.18, for a total transaction of $511,800.00. Following the completion of the sale, the director now owns 24,591 shares in the company, valued at approximately $1,258,567.38. The disclosure for this sale can be found here. 47.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SSTK. Cutler Group LP grew its position in shares of Shutterstock by 357.1% in the second quarter. Cutler Group LP now owns 2,571 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 3,571 shares during the period. SG Americas Securities LLC acquired a new position in Shutterstock during the second quarter worth about $204,000. Piedmont Investment Advisors LLC acquired a new position in Shutterstock during the second quarter worth about $205,000. Stone Ridge Asset Management LLC acquired a new position in Shutterstock during the third quarter worth about $223,000. Finally, GAM Holding AG acquired a new position in Shutterstock during the second quarter worth about $232,000. Institutional investors and hedge funds own 54.96% of the company’s stock.

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Shutterstock Company Profile (NYSE:SSTK)

Shutterstock, Inc provides content products and services in North America, Europe, and internationally. It offers digital imagery services, which include licensed photographs, vectors, illustrations, and video clips that customers use in their visual communications, such as Websites, digital and print marketing materials, corporate communications, books, publications, and video content; and commercial music services comprising music tracks and sound effects that are used to complement digital imagery.

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