Getty Images (NYSE:GETY) Sets New 52-Week Low Following Insider Selling

Getty Images Holdings, Inc. (NYSE:GETY) reached a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at $1.97.

Specifically, CMO Gene Foca sold 23,475 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total transaction of $49,767.00. Following the transaction, the chief marketing officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Nathaniel Gandert sold 15,859 shares of the company’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 transaction of $33,621.08. Following the completion of the sale, the chief technology officer now directly owns 534,377 shares of the company’s stock, valued at $1,132,879.24. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO Craig Warren Peters sold 124,624 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $2.12, for a total transaction of $264,202.88. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Wall Street Analysts Forecast Growth

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

Getty Images Trading Down 7.5 %

The stock has a market cap of $736.43 million, a price-to-earnings 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. The company’s fifty day moving average price is $2.35 and its 200-day moving average price is $2.91.

Getty Images (NYSE:GETY) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.01) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $245.50 million. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, research analysts expect that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Getty Images

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in shares of Getty Images in the fourth quarter valued at about $27,000. Aristeia Capital L.L.C. purchased a new stake in Getty Images in the fourth quarter valued at approximately $28,000. Ameriprise Financial Inc. acquired a new position in Getty Images in the 4th quarter worth approximately $28,000. Virtu Financial LLC purchased a new position in Getty Images during the 4th quarter worth approximately $33,000. Finally, Oxford Asset Management LLP acquired a new stake in Getty Images during the 4th quarter valued at approximately $33,000. Hedge funds and other 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.