Getty Images (NYSE:GETY) Sets New 1-Year Low – Here’s Why

Shares of Getty Images Holdings, Inc. (NYSE:GETY) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.25 and last traded at $1.47, with a volume of 3566671 shares traded. The stock had previously closed at $1.35.

Analyst Ratings Changes

A number of research firms have weighed in on GETY. Macquarie reiterated a “neutral” rating and issued a $3.75 target price on shares of Getty Images in a research note on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $7.70 target price on shares of Getty Images in a research note on Thursday, March 13th. Citigroup reiterated a “neutral” rating and issued a $2.45 target price on shares of Getty Images in a research note on Monday, March 24th. Benchmark dropped their target price on shares of Getty Images from $6.00 to $4.50 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Getty Images in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $4.60.

Getty Images Stock Up 13.8 %

The company has a market capitalization of $662.17 million, a PE ratio of 13.38 and a beta of 2.00. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s 50 day moving average is $2.14 and its 200 day moving average is $2.78.

Getty Images (NYSE:GETY) last posted its earnings results on Monday, March 17th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Getty Images had a return on equity of 6.42% and a net margin of 5.91%. The firm had revenue of $247.30 million during the quarter, compared to analysts’ expectations of $245.50 million. The company’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Getty Images

In related news, CTO Nathaniel Gandert sold 15,859 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $2.12, for a total transaction of $33,621.08. Following the completion of the sale, the chief technology officer now directly owns 534,377 shares in the company, valued at $1,132,879.24. This represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Craig Warren Peters sold 124,624 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total value of $264,202.88. Following the sale, the chief executive officer now owns 1,262,948 shares of the company’s stock, valued at $2,677,449.76. This represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 226,668 shares of company stock worth $480,536. 12.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Getty Images

Several institutional investors and hedge funds have recently bought and sold shares of GETY. Koch Inc. purchased a new stake in Getty Images in the 4th quarter worth approximately $183,865,000. Toronto Dominion Bank purchased a new position in shares of Getty Images in the 4th quarter valued at approximately $3,553,000. Vanguard Group Inc. lifted its stake in shares of Getty Images by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 10,225,249 shares of the company’s stock valued at $22,087,000 after purchasing an additional 698,829 shares during the period. State Street Corp lifted its stake in shares of Getty Images by 46.3% in the 3rd quarter. State Street Corp now owns 1,474,167 shares of the company’s stock valued at $5,617,000 after purchasing an additional 466,521 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Getty Images by 71.2% in the 4th quarter. Bank of New York Mellon Corp now owns 352,388 shares of the company’s stock valued at $761,000 after purchasing an additional 146,576 shares during the period. 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.