Getty Images (NYSE:GETY) Hits New 12-Month Low – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY)’s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.60 and last traded at $2.67, with a volume of 31443 shares changing hands. The stock had previously closed at $2.69.

Analyst Upgrades and Downgrades

Separately, Macquarie raised their price objective on shares of Getty Images from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Wednesday, November 13th.

Getty Images Trading Down 0.7 %

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 firm has a market cap of $1.10 billion, a price-to-earnings ratio of 22.25 and a beta of 1.86. The firm’s fifty day moving average is $3.44 and its 200-day moving average is $3.50.

Insider Transactions at Getty Images

In other news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $2.46, for a total transaction of $10,086,000.00. Following the completion of the sale, the insider now owns 74,175,262 shares of the company’s stock, valued at $182,471,144.52. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Kjelti Wilkes Kellough sold 8,070 shares of Getty Images stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $3.61, for a total transaction of $29,132.70. Following the completion of the sale, the general counsel now directly owns 258,630 shares of the company’s stock, valued at approximately $933,654.30. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,269,927 shares of company stock valued at $10,739,630. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Getty Images

Several hedge funds have recently bought and sold shares of GETY. State Street Corp lifted its stake in shares of Getty Images by 46.3% in the third quarter. State Street Corp now owns 1,474,167 shares of the company’s stock valued at $5,617,000 after buying an additional 466,521 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Getty Images in the 2nd quarter worth about $910,000. Ninety One UK Ltd bought a new position in Getty Images in the 2nd quarter valued at about $583,000. Rhumbline Advisers acquired a new position in Getty Images during the 2nd quarter valued at about $392,000. Finally, Geode Capital Management LLC increased its holdings in Getty Images by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,663,955 shares of the company’s stock worth $6,340,000 after purchasing an additional 88,533 shares in the last quarter. Institutional investors and hedge funds 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.