Shutterstock (NYSE:SSTK) Downgraded to “Strong Sell” Rating by Zacks Research

Shutterstock (NYSE:SSTK) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently commented on SSTK. Wall Street Zen cut shares of Shutterstock from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Shutterstock in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.00.

Shutterstock Trading Down 1.5%

Shares of SSTK stock opened at $19.74 on Monday. The company has a market capitalization of $700.97 million, a P/E ratio of 11.75 and a beta of 1.27. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $22.36 and its two-hundred day moving average is $20.63. Shutterstock has a twelve month low of $14.35 and a twelve month high of $38.80.

Shutterstock (NYSE:SSTK) last issued its quarterly earnings results on Wednesday, November 5th. The business services provider reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.48). Shutterstock had a return on equity of 16.30% and a net margin of 5.89%.The company had revenue of $260.09 million for the quarter, compared to analyst estimates of $255.60 million. During the same period in the prior year, the business earned $1.31 earnings per share. Shutterstock’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Shutterstock will post 3.12 EPS for the current year.

Institutional Trading of Shutterstock

A number of institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd grew its holdings in Shutterstock by 64.2% in the third quarter. Qube Research & Technologies Ltd now owns 82,470 shares of the business services provider’s stock valued at $1,720,000 after purchasing an additional 32,245 shares during the last quarter. Algert Global LLC acquired a new stake in Shutterstock in the 3rd quarter valued at about $441,000. Creative Planning grew its stake in Shutterstock by 40.9% in the 3rd quarter. Creative Planning now owns 69,501 shares of the business services provider’s stock valued at $1,449,000 after acquiring an additional 20,189 shares during the last quarter. California State Teachers Retirement System increased its holdings in Shutterstock by 7.0% during the 3rd quarter. California State Teachers Retirement System now owns 22,709 shares of the business services provider’s stock valued at $473,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Mariner Investment Group LLC acquired a new position in Shutterstock during the third quarter worth about $336,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.

About Shutterstock

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.