Getty Images (NYSE:GETY) Sees Strong Trading Volume After Analyst Upgrade

Getty Images Holdings, Inc. (NYSE:GETY) saw unusually-strong trading volume on Thursday after Macquarie raised their price target on the stock from $3.50 to $3.75. Macquarie currently has a neutral rating on the stock. Approximately 952,668 shares were traded during trading, an increase of 99% from the previous session’s volume of 478,625 shares.The stock last traded at $3.29 and had previously closed at $3.23.

Several other equities research analysts also recently issued reports on GETY. Citigroup dropped their price objective on Getty Images from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Getty Images in a research report on Tuesday, August 13th.

Insider Transactions at Getty Images

In related news, CFO Jennifer Leyden sold 12,124 shares of the business’s 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 $43,767.64. Following the completion of the transaction, the chief financial officer now owns 273,376 shares in the company, valued at $986,887.36. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig Warren Peters sold 32,170 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $3.61, for a total value of $116,133.70. Following the transaction, the chief executive officer now owns 1,245,401 shares of the company’s stock, valued at $4,495,897.61. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,427 shares of company stock worth $652,130. 12.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GETY. Natixis bought a new stake in Getty Images during the 1st quarter valued at $42,000. EntryPoint Capital LLC bought a new stake in Getty Images during the 1st quarter valued at $47,000. Kessler Investment Group LLC raised its stake in Getty Images by 47.6% during the 2nd quarter. Kessler Investment Group LLC now owns 31,580 shares of the company’s stock valued at $103,000 after acquiring an additional 10,178 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Getty Images during the 2nd quarter valued at $49,000. Finally, Ninety One UK Ltd bought a new stake in Getty Images during the 2nd quarter valued at $583,000. Institutional investors and hedge funds own 45.75% of the company’s stock.

Getty Images Stock Down 1.4 %

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 firm has a 50 day simple moving average of $3.75 and a two-hundred day simple moving average of $3.63. The stock has a market cap of $1.31 billion, a P/E ratio of 26.54 and a beta of 2.02.

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.