Getty Images (NYSE:GETY) Shares Gap Down – What’s Next?

Shares of Getty Images Holdings, Inc. (NYSE:GETY) gapped down prior to trading on Wednesday . The stock had previously closed at $3.19, but opened at $2.89. Getty Images shares last traded at $2.71, with a volume of 2,444,035 shares.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Macquarie reaffirmed a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a report on Wednesday. Wedbush restated an “outperform” rating and set a $7.70 price target on shares of Getty Images in a research note on Tuesday. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Getty Images in a research note on Friday. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.61.

Getty Images Stock Performance

The stock has a 50 day moving average of $2.87 and a 200-day moving average of $3.33. The company has a market capitalization of $1.08 billion, a P/E ratio of 21.92 and a beta of 1.93. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84.

Insiders Place Their Bets

In other news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of Getty Images 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 sale, the insider now owns 74,175,262 shares in the company, valued at $182,471,144.52. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jennifer Leyden sold 12,342 shares of the firm’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 $27,152.40. Following the transaction, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at $574,274.80. The trade was a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,266,876 shares of company stock worth $10,629,182 over the last three months. 12.30% of the stock is currently owned by company insiders.

Institutional Trading of Getty Images

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased 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. Franklin Resources Inc. purchased a new position in Getty Images during the 3rd quarter valued at approximately $221,000. Barclays PLC increased its stake in Getty Images by 47.1% in the 3rd quarter. Barclays PLC now owns 156,216 shares of the company’s stock worth $596,000 after acquiring an additional 49,995 shares during the last quarter. State Street Corp increased its stake in Getty Images by 46.3% in the 3rd quarter. State Street Corp now owns 1,474,167 shares of the company’s stock worth $5,617,000 after acquiring an additional 466,521 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Getty Images during the 2nd quarter worth approximately $910,000. Hedge funds and other institutional investors 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.