Getty Images (NYSE:GETY) Stock Price Down 3.8% – Here’s What Happened

Shares of Getty Images Holdings, Inc. (NYSE:GETY) dropped 3.8% during trading on Thursday . The company traded as low as $1.67 and last traded at $1.67. Approximately 277,675 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,166,246 shares. The stock had previously closed at $1.73.

Analysts Set New Price Targets

GETY has been the subject of a number of research reports. Wall Street Zen lowered Getty Images from a “buy” rating to a “sell” rating in a research report on Thursday, May 22nd. Benchmark lowered their price objective on Getty Images from $4.50 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Citigroup restated a “neutral” rating and set a $2.45 target price on shares of Getty Images in a research report on Monday, March 24th. Finally, Wedbush restated an “outperform” rating and set a $7.70 target price on shares of Getty Images in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.35.

Getty Images Price Performance

The company has a market capitalization of $690.41 million, a price-to-earnings ratio of 13.92 and a beta of 1.91. The company has a 50-day moving average price of $1.75 and a 200-day moving average price of $2.21. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79.

Getty Images (NYSE:GETY) last posted its earnings results on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.17). Getty Images had a return on equity of 6.42% and a net margin of 5.91%. The company had revenue of $224.08 million for the quarter, compared to analyst estimates of $236.01 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Getty Images’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Getty Images

In other Getty Images news, SVP Cho Mikael sold 18,590 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $2.12, for a total value of $39,410.80. Following the sale, the senior vice president now owns 123,862 shares in the company, valued at approximately $262,587.44. The trade was a 13.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig Warren Peters sold 124,624 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total value of $264,202.88. Following the completion of the sale, the chief executive officer now owns 1,262,948 shares in the company, valued at $2,677,449.76. The trade was a 8.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 226,668 shares of company stock worth $480,536. 12.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Getty Images

Several institutional investors have recently bought and sold shares of the company. Invenomic Capital Management LP bought a new stake in Getty Images in the 1st quarter valued at approximately $4,646,000. AQR Capital Management LLC lifted its stake in Getty Images by 1,201.6% in the 1st quarter. AQR Capital Management LLC now owns 275,296 shares of the company’s stock valued at $476,000 after acquiring an additional 254,146 shares in the last quarter. TIG Advisors LLC bought a new stake in Getty Images in the 1st quarter valued at approximately $654,000. EntryPoint Capital LLC bought a new stake in Getty Images in the 1st quarter valued at approximately $140,000. Finally, Quantbot Technologies LP bought a new stake in Getty Images in the 1st quarter valued at approximately $107,000. 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.