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

Shares of Getty Images Holdings, Inc. (NYSE:GETY) hit a new 52-week low on Thursday following insider selling activity. The company traded as low as $1.89 and last traded at $1.96, with a volume of 771770 shares trading hands. The stock had previously closed at $1.97.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a report on Thursday, March 13th. Macquarie reaffirmed a “neutral” rating and set a $3.75 price target on shares of Getty Images in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research note on Wednesday, December 18th. Citigroup restated a “neutral” rating and issued a $2.45 target price on shares of Getty Images in a report on Monday, March 24th. Finally, Benchmark dropped their price target on Getty Images from $6.00 to $4.50 and set a “buy” rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Getty Images presently has a consensus rating of “Hold” and a consensus target price of $4.60.

Getty Images Price Performance

The stock’s 50-day simple moving average is $2.35 and its two-hundred day simple moving average is $2.91. The firm has a market cap of $736.43 million, a P/E 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 posted its quarterly earnings data 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 return on equity of 6.42% and a net margin of 5.91%. The firm had revenue of $247.30 million during the quarter, compared to analysts’ expectations of $245.50 million. Getty Images’s quarterly revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Getty Images

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in shares of Getty Images by 3.6% during the fourth quarter. Rhumbline Advisers now owns 125,421 shares of the company’s stock valued at $271,000 after purchasing an additional 4,359 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Getty Images by 15.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,897 shares of the company’s stock worth $80,000 after acquiring an additional 4,826 shares in the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 7,897 shares during the period. ProShare Advisors LLC raised its stake in shares of Getty Images by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 28,255 shares of the company’s stock valued at $61,000 after acquiring an additional 9,297 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Getty Images by 25.4% in the fourth quarter. JPMorgan Chase & Co. now owns 46,590 shares of the company’s stock valued at $101,000 after purchasing an additional 9,434 shares during the period. Institutional investors own 45.75% of the company’s stock.

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.