Getty Images (NYSE:GETY) Hits New 1-Year Low at $2.93

Getty Images Holdings, Inc. (NYSE:GETY) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $2.93 and last traded at $2.97, with a volume of 164602 shares trading hands. The stock had previously closed at $3.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Benchmark cut their price objective on shares of Getty Images from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a research report on Monday, May 6th. Finally, Citigroup increased their target price on Getty Images from $5.50 to $6.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.08.

Getty Images Stock Performance

The business’s fifty day moving average is $3.67 and its two-hundred day moving average is $4.29. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $1.30 billion, a PE ratio of 52.92 and a beta of 2.09.

Getty Images (NYSE:GETY) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Getty Images had a return on equity of 9.18% and a net margin of 3.33%. The firm had revenue of $222.28 million for the quarter, compared to the consensus estimate of $223.29 million. Equities research analysts predict that Getty Images Holdings, Inc. will post 0.13 earnings per share for the current year.

Insider Activity

In other news, Director Chinh Chu sold 14,707 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $4.01, for a total transaction of $58,975.07. Following the completion of the transaction, the director now directly owns 8,550,140 shares of the company’s stock, valued at $34,286,061.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Getty Images news, General Counsel Kjelti Wilkes Kellough sold 8,273 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $3.23, for a total value of $26,721.79. Following the transaction, the general counsel now directly owns 246,750 shares of the company’s stock, valued at $797,002.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chinh Chu sold 14,707 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $4.01, for a total value of $58,975.07. Following the sale, the director now owns 8,550,140 shares of the company’s stock, valued at $34,286,061.40. The disclosure for this sale can be found here. Insiders have sold a total of 256,432 shares of company stock valued at $974,829 in the last 90 days. 12.30% of the stock is currently owned by insiders.

Institutional Trading of Getty Images

Several large investors have recently added to or reduced their stakes in GETY. Corton Capital Inc. boosted its stake in shares of Getty Images by 49.3% during the 3rd quarter. Corton Capital Inc. now owns 16,864 shares of the company’s stock worth $109,000 after acquiring an additional 5,571 shares during the last quarter. EULAV Asset Management grew its holdings in Getty Images by 37.5% during the third quarter. EULAV Asset Management now owns 550,000 shares of the company’s stock valued at $3,570,000 after purchasing an additional 150,000 shares during the period. Vanguard Group Inc. bought a new stake in Getty Images during the third quarter valued at about $52,554,000. Victory Capital Management Inc. increased its position in Getty Images by 20.4% in the fourth quarter. Victory Capital Management Inc. now owns 25,309 shares of the company’s stock worth $133,000 after buying an additional 4,281 shares in the last quarter. Finally, Kessler Investment Group LLC bought a new position in shares of Getty Images in the first quarter worth about $89,000. 45.75% of the stock is currently owned by institutional investors.

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.