Getty Images (NYSE:GETY) Reaches New 12-Month Low After Insider Selling

Getty Images Holdings, Inc. (NYSE:GETY)’s stock price hit a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $1.89 and last traded at $1.96, with a volume of 771770 shares changing hands. The stock had previously closed at $1.97.

Specifically, CMO Gene Foca sold 23,475 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 $49,767.00. Following the sale, the chief marketing officer now directly owns 468,943 shares of the company’s stock, valued at approximately $994,159.16. This trade represents a 4.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Nathaniel Gandert sold 15,859 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total value of $33,621.08. Following the completion of the transaction, the chief technology officer now directly owns 534,377 shares of the company’s stock, valued at approximately $1,132,879.24. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In related news, CEO Craig Warren Peters sold 124,624 shares of Getty Images stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $2.12, for a total transaction of $264,202.88. Following the completion of the transaction, the chief executive officer now directly owns 1,262,948 shares in the company, valued at approximately $2,677,449.76. This trade represents a 8.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GETY shares. Citigroup reaffirmed a “neutral” rating and set a $2.45 price objective on shares of Getty Images in a research note on Monday, March 24th. Macquarie restated a “neutral” rating and set a $3.75 price target on shares of Getty Images in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. Benchmark lowered 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, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $4.60.

Getty Images Trading Down 7.5 %

The company’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.91. The firm has a market capitalization of $736.43 million, a PE ratio of 14.88 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.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GETY. Koch Inc. purchased a new position in Getty Images in the 4th quarter worth approximately $183,865,000. Toronto Dominion Bank acquired a new stake in shares of Getty Images in the fourth quarter valued at approximately $3,553,000. Vanguard Group Inc. lifted its position in Getty Images by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 10,225,249 shares of the company’s stock worth $22,087,000 after buying an additional 698,829 shares in the last quarter. State Street Corp boosted its stake in Getty Images by 46.3% during the third quarter. State Street Corp now owns 1,474,167 shares of the company’s stock worth $5,617,000 after buying an additional 466,521 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in 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 buying an additional 146,576 shares in the last quarter. 45.75% of the stock is owned by institutional investors and hedge funds.

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.