Getty Images (NYSE:GETY) Shares Gap Down on Analyst Downgrade

Getty Images Holdings, Inc. (NYSE:GETY)’s share price gapped down prior to trading on Tuesday after Benchmark lowered their price target on the stock from $6.00 to $4.50. The stock had previously closed at $2.15, but opened at $2.05. Benchmark currently has a buy rating on the stock. Getty Images shares last traded at $2.19, with a volume of 602,023 shares changing hands.

Several other equities analysts have also recently issued reports on the stock. Macquarie reissued a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a research note on Wednesday, January 8th. Wedbush reissued an “outperform” rating and issued a $7.70 price objective on shares of Getty Images in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Getty Images presently has an average rating of “Hold” and an average target price of $5.24.

Insider Buying and Selling at Getty Images

In other news, CFO Jennifer Leyden sold 12,342 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total transaction of $27,152.40. Following the transaction, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at $574,274.80. This represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig Warren Peters sold 32,753 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $72,056.60. Following the transaction, the chief executive officer now directly owns 1,212,648 shares in the company, valued at approximately $2,667,825.60. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,521 shares of company stock valued at $155,146. 12.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Getty Images

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aigen Investment Management LP purchased a new stake in shares of Getty Images in the 3rd quarter worth about $48,000. Victory Capital Management Inc. boosted its position in shares of Getty Images by 138.5% in the 3rd quarter. Victory Capital Management Inc. now owns 59,145 shares of the company’s stock worth $225,000 after buying an additional 34,349 shares in the last quarter. Intech Investment Management LLC purchased a new position in Getty Images in the 3rd quarter valued at about $44,000. Charles Schwab Investment Management Inc. lifted its holdings in Getty Images by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 524,987 shares of the company’s stock valued at $2,000,000 after purchasing an additional 58,135 shares in the last quarter. Finally, FMR LLC lifted its holdings in Getty Images by 5.0% in the 3rd quarter. FMR LLC now owns 166,221 shares of the company’s stock valued at $633,000 after purchasing an additional 7,897 shares in the last quarter. 45.75% of the stock is owned by institutional investors and hedge funds.

Getty Images Stock Performance

The stock’s 50-day moving average is $2.46 and its 200-day moving average is $3.00. The stock has a market cap of $898.61 million, a price-to-earnings ratio of 18.22 and a beta of 1.97. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84.

Getty Images (NYSE:GETY) last posted its earnings results on Monday, March 17th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Getty Images had a net margin of 5.91% and a return on equity of 6.42%. The firm had revenue of $247.30 million during the quarter, compared to the consensus estimate of $245.50 million. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, analysts expect that Getty Images Holdings, Inc. will post 0.08 EPS for the current year.

About Getty Images

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.