Getty Images (NYSE:GETY) Shares Gap Up – What’s Next?

Getty Images Holdings, Inc. (NYSE:GETY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $2.57, but opened at $3.70. Getty Images shares last traded at $3.62, with a volume of 37,283,006 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GETY. Wedbush restated an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a research report on Tuesday. Macquarie restated a “neutral” rating and issued a $3.75 price target on shares of Getty Images in a research note on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. One 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.61.

Getty Images Trading Down 18.2 %

The business has a fifty day simple moving average of $2.90 and a 200-day simple moving average of $3.34. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 21.75 and a beta of 1.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79.

Insider Activity

In other news, Director Chinh Chu sold 8,243 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $4.01, for a total value of $33,054.43. Following the completion of the sale, the director now owns 9,795,163 shares of the company’s stock, valued at approximately $39,278,603.63. This represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of Getty Images stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $2.46, for a total value of $10,086,000.00. Following the completion of the transaction, the insider now directly owns 74,175,262 shares in the company, valued at approximately $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. Insiders sold 4,266,876 shares of company stock valued at $10,629,182 over the last quarter. 12.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new stake in shares of Getty Images during the second quarter worth $36,000. Intech Investment Management LLC acquired a new stake in Getty Images during the 3rd quarter worth about $44,000. Principal Financial Group Inc. acquired a new stake in Getty Images during the 2nd quarter worth about $44,000. Aigen Investment Management LP bought a new position in shares of Getty Images in the 3rd quarter worth about $48,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Getty Images in the 2nd quarter valued at about $91,000. 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.