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

Shares of Getty Images Holdings, Inc. (NYSE:GETY) gapped down before the market opened 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 traded.

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

Insider Buying and Selling at Getty Images

In related news, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred 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 owns 261,034 shares in the company, valued at $574,274.80. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig Warren Peters sold 32,753 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total transaction of $72,056.60. Following the transaction, the chief executive officer now owns 1,212,648 shares in the company, valued at $2,667,825.60. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,521 shares of company stock worth $155,146. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Getty Images by 3.6% during the fourth quarter. Rhumbline Advisers now owns 125,421 shares of the company’s stock worth $271,000 after buying an additional 4,359 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Getty Images by 15.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 36,897 shares of the company’s stock worth $80,000 after buying an additional 4,826 shares in the last quarter. FMR LLC boosted its holdings in Getty Images by 5.0% during the third quarter. FMR LLC now owns 166,221 shares of the company’s stock worth $633,000 after buying an additional 7,897 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Getty Images by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,255 shares of the company’s stock worth $61,000 after buying an additional 9,297 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Getty Images by 25.4% during the fourth quarter. JPMorgan Chase & Co. now owns 46,590 shares of the company’s stock worth $101,000 after buying an additional 9,434 shares in the last quarter. Institutional investors and hedge funds own 45.75% of the company’s stock.

Getty Images Stock Up 1.7 %

The stock has a market capitalization of $898.61 million, a P/E ratio of 18.22 and a beta of 1.97. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s fifty day moving average is $2.46 and its two-hundred day moving average is $3.00.

Getty Images (NYSE:GETY) last posted its quarterly earnings data on Monday, March 17th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $247.30 million during the quarter, compared to analyst estimates of $245.50 million. Getty Images had a net margin of 5.91% and a return on equity of 6.42%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

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.