Shutterstock (NYSE:SSTK) Reaches New 1-Year Low – Here’s Why

Shutterstock, Inc. (NYSE:SSTK)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $9.43 and last traded at $9.9050, with a volume of 4089728 shares traded. The stock had previously closed at $13.95.

Shutterstock News Summary

Here are the key news stories impacting Shutterstock this week:

• Negative Sentiment: Getty Images terminated the proposed $3.7 billion merger with Shutterstock after UK regulatory conditions made approval difficult, removing a potential acquisition premium for shareholders. Getty Images Plans to End Shutterstock Deal After U.K. Imposes Conditions
• Negative Sentiment: The deal breakup has pressured SSTK shares sharply in premarket and early trading as investors reassess the company’s standalone prospects. Shutterstock Shares Plunge 30% After Merger With Getty Is Called Off
• Negative Sentiment: Shutterstock now faces renewed concern about long-term growth and competition from AI-generated content providers after the merger was scrapped. Shutterstock shares crash 29% after Getty Images calls off 3.7 billion merger

Analyst Ratings Changes

A number of equities analysts have issued reports on SSTK shares. Citigroup upgraded Shutterstock from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, June 5th. Zacks Research cut Shutterstock from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 11th. Weiss Ratings downgraded Shutterstock from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen lowered Shutterstock from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $7.00.

Shutterstock Stock Performance

The company has a market capitalization of $363.91 million, a price-to-earnings ratio of -17.08 and a beta of 1.06. The stock’s 50 day moving average price is $15.19 and its 200 day moving average price is $16.84. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.22.

Shutterstock Dividend Announcement

The business 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 of this dividend was Thursday, June 4th. This represents a $1.44 annualized dividend and a yield of 14.5%. Shutterstock’s dividend payout ratio is -248.28%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Shutterstock in the 1st quarter valued at approximately $180,000. Bank of America Corp DE raised its position in Shutterstock by 6.9% during the first quarter. Bank of America Corp DE now owns 303,539 shares of the business services provider’s stock worth $5,042,000 after acquiring an additional 19,515 shares in the last quarter. Callodine Capital Management LP lifted its stake in Shutterstock by 23.0% in 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 acquiring an additional 238,176 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in Shutterstock by 7.3% in the first quarter. Rice Hall James & Associates LLC now owns 733,662 shares of the business services provider’s stock valued at $12,186,000 after acquiring an additional 50,200 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Shutterstock by 6.5% in the 1st quarter. Bank of New York Mellon Corp now owns 427,114 shares of the business services provider’s stock valued at $7,094,000 after acquiring an additional 26,144 shares during the period. Institutional investors and hedge funds own 82.79% of the company’s stock.

About Shutterstock

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.