Macquarie Forecasts Strong Price Appreciation for Getty Images (NYSE:GETY) Stock

Getty Images (NYSE:GETY) had its target price boosted by investment analysts at Macquarie from $3.50 to $3.75 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Macquarie’s price objective indicates a potential upside of 17.74% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Getty Images in a research report on Tuesday, August 13th. Citigroup decreased their price objective on Getty Images from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Getty Images Stock Performance

Shares of GETY opened at $3.19 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. Getty Images has a 1 year low of $2.88 and a 1 year high of $5.77. The firm has a fifty day moving average of $3.75 and a 200-day moving average of $3.63. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 26.54 and a beta of 2.02.

Insiders Place Their Bets

In other news, Director Chinh Chu sold 48,400 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $4.05, for a total transaction of $196,020.00. Following the completion of the transaction, the director now owns 9,706,670 shares in the company, valued at approximately $39,312,013.50. This trade represents a 0.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Kjelti Wilkes Kellough sold 8,070 shares of Getty Images stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $3.61, for a total transaction of $29,132.70. Following the completion of the transaction, the general counsel now directly owns 258,630 shares in the company, valued at $933,654.30. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,427 shares of company stock worth $652,130. 12.30% of the stock is owned by corporate insiders.

Institutional Trading of Getty Images

A number of large investors have recently added to or reduced their stakes in GETY. Charles Schwab Investment Management Inc. increased its stake in Getty Images by 12.5% in the 3rd 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Getty Images in the second quarter worth about $910,000. Ninety One UK Ltd purchased a new position in shares of Getty Images in the second quarter worth approximately $583,000. FMR LLC raised its holdings in shares of Getty Images by 5.0% during the third quarter. FMR LLC now owns 166,221 shares of the company’s stock valued at $633,000 after acquiring an additional 7,897 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of Getty Images in the 2nd quarter valued at approximately $392,000. 45.75% of the stock is currently owned by institutional investors.

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.