Getty Images (NYSE:GETY) Shares Gap Down Following Weak Earnings

Getty Images Holdings, Inc. (NYSE:GETY) gapped down before the market opened on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $2.15, but opened at $2.05. Getty Images shares last traded at $2.19, with a volume of 602,023 shares.

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 for the quarter, compared to analysts’ expectations of $245.50 million. The firm’s revenue was up 9.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

GETY has been the topic of several recent analyst reports. Macquarie reiterated a “neutral” rating and issued a $3.75 target price on shares of Getty Images in a research note on Wednesday, January 8th. Benchmark dropped their price objective on Getty Images from $6.00 to $4.50 and set a “buy” rating for the company in a research note on Tuesday. Wedbush restated an “outperform” rating and set a $7.70 target price on shares of Getty Images in a research report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.24.

Insider Buying and Selling

In other Getty Images news, CFO Jennifer Leyden sold 12,342 shares of Getty Images stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total transaction of $27,152.40. Following the transaction, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at approximately $574,274.80. This trade represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig Warren Peters sold 32,753 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total transaction of $72,056.60. Following the completion of the sale, the chief executive officer now directly owns 1,212,648 shares of the company’s stock, valued at $2,667,825.60. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,521 shares of company stock worth $155,146. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in shares of Getty Images by 138.5% during the third quarter. Victory Capital Management Inc. now owns 59,145 shares of the company’s stock valued at $225,000 after buying an additional 34,349 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Getty Images during the third quarter valued at approximately $44,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Getty Images by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 524,987 shares of the company’s stock worth $2,000,000 after purchasing an additional 58,135 shares during the last quarter. FMR LLC increased its stake in shares of Getty Images by 5.0% in the third quarter. FMR LLC now owns 166,221 shares of the company’s stock worth $633,000 after buying an additional 7,897 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in Getty Images by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 60,238 shares of the company’s stock valued at $230,000 after buying an additional 33,942 shares during the last quarter. Hedge funds and other institutional investors own 45.75% of the company’s stock.

Getty Images Stock Up 4.4 %

The firm has a market cap of $922.86 million, a PE ratio of 18.71 and a beta of 1.97. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. The company’s 50-day simple moving average is $2.44 and its two-hundred day simple moving average is $2.99.

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.