Getty Images (NYSE:GETY) Trading Down 8.4% – What’s Next?

Getty Images Holdings, Inc. (NYSE:GETY)’s share price dropped 8.4% during trading on Monday . The stock traded as low as $2.41 and last traded at $2.41. Approximately 623,597 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 13,263,062 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

GETY has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Getty Images in a report on Friday, January 10th. Wedbush reiterated an “outperform” rating and issued a $7.70 target price on shares of Getty Images in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Getty Images presently has an average rating of “Hold” and an average price target of $5.61.

Getty Images Trading Up 5.7 %

The stock has a market capitalization of $1.06 billion, a PE ratio of 21.50 and a beta of 1.93. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The firm has a 50-day moving average price of $2.81 and a 200-day moving average price of $3.33.

Insider Buying and Selling

In related news, CFO Jennifer Leyden sold 12,342 shares of Getty Images stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $27,152.40. Following the completion of the sale, the chief financial officer now owns 261,034 shares of the company’s stock, valued at approximately $574,274.80. This trade represents a 4.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $2.46, for a total value of $10,086,000.00. Following the completion of the sale, the insider now owns 74,175,262 shares in the company, valued at $182,471,144.52. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,249,754 shares of company stock worth $10,560,522. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. bought a new position in Getty Images in the 2nd quarter worth approximately $44,000. Intech Investment Management LLC bought a new stake in Getty Images during the 3rd quarter valued at $44,000. Aigen Investment Management LP purchased a new stake in shares of Getty Images during the third quarter worth $48,000. Renaissance Technologies LLC bought a new position in shares of Getty Images in the second quarter worth $91,000. Finally, Verition Fund Management LLC purchased a new position in shares of Getty Images in the third quarter valued at $96,000. Hedge funds and other institutional investors own 45.75% of the company’s stock.

Getty Images Company Profile

Getty Images Holdings, Inc offers creative and editorial visual content solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its products include Getty Images that offers creative and editorial content including stills, music and video which focuses on corporate, agency, and media customers; iStock.com, an e-commerce offering where customers have access to creative stills and video; Unsplash.com, a platform offering free stock photo downloads and paid subscriptions targeted to the high-growth prosumer and semi-professional creator segments; and Unsplash+ that provides access to unique model released content with expanded legal protections.