Getty Images (NYSE:GETY) Shares Up 8% – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY)’s share price rose 8% during trading on Thursday . The stock traded as high as $2.89 and last traded at $2.91. Approximately 2,578,161 shares traded hands during trading, a decline of 54% from the average daily volume of 5,581,422 shares. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GETY. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Getty Images in a report on Friday, January 10th. Wedbush reissued an “outperform” rating and set a $7.70 target price on shares of Getty Images in a research note on Tuesday, January 7th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $3.75 price target on shares of Getty Images in a research note on Wednesday, January 8th. One 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.61.

Getty Images Trading Down 0.2 %

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $1.17 billion, a P/E ratio of 23.71 and a beta of 1.95. The business has a fifty day moving average price of $2.58 and a 200 day moving average price of $3.23.

Insider Buying and Selling at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 32,753 shares of Getty Images stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total value of $72,056.60. Following the sale, the chief executive officer now directly owns 1,212,648 shares in the company, valued at approximately $2,667,825.60. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jennifer Leyden sold 12,342 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $27,152.40. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 4,171,021 shares of company stock worth $10,242,646. Corporate insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in shares of Getty Images during the 3rd quarter worth approximately $44,000. Aigen Investment Management LP acquired a new position in Getty Images during the third quarter worth $48,000. Verition Fund Management LLC bought a new stake in Getty Images during the third quarter worth $96,000. Renaissance Technologies LLC acquired a new stake in Getty Images in the second quarter valued at $91,000. Finally, SG Americas Securities LLC bought a new position in shares of Getty Images in the 3rd quarter valued at about $135,000. 45.75% of the stock is owned by institutional investors and hedge funds.

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.