Getty Images (NYSE:GETY) Trading Down 5% – Here’s Why

Getty Images Holdings, Inc. (NYSE:GETY) shares dropped 5% during trading on Thursday . The stock traded as low as $2.57 and last traded at $2.56. Approximately 1,842,106 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,205,106 shares. The stock had previously closed at $2.69.

Analyst Ratings Changes

A number of research firms have weighed in on GETY. Macquarie reissued a “neutral” rating and issued a $3.75 target price on shares of Getty Images in a report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $7.70 price objective on shares of Getty Images in a research note on Tuesday, January 7th. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Getty Images in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. reiterated 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 assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.61.

Getty Images Trading Down 4.3 %

The stock has a 50-day moving average price of $2.66 and a two-hundred day moving average price of $3.30. The stock has a market capitalization of $1.06 billion, a PE ratio of 21.46 and a beta of 1.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79.

Insider Buying and Selling at Getty Images

In other news, Director Chinh Chu sold 22,090 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $4.02, for a total value of $88,801.80. Following the completion of the transaction, the director now owns 9,773,073 shares of the company’s stock, valued at $39,287,753.46. This represents a 0.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Craig Warren Peters sold 32,753 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 value of $72,056.60. Following the sale, the chief executive officer now directly owns 1,212,648 shares in the company, 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. Insiders have sold 4,241,511 shares of company stock valued at $10,527,468 over the last 90 days. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Getty Images

Several hedge funds have recently modified their holdings of GETY. Intech Investment Management LLC bought a new stake in Getty Images in the 3rd quarter valued at $44,000. Aigen Investment Management LP purchased a new position in shares of Getty Images during the third quarter valued at about $48,000. Renaissance Technologies LLC bought a new stake in shares of Getty Images in the second quarter worth about $91,000. Verition Fund Management LLC purchased a new stake in shares of Getty Images in the third quarter worth about $96,000. Finally, SG Americas Securities LLC bought a new position in Getty Images during the third quarter valued at approximately $135,000. Hedge funds and other institutional investors own 45.75% of the company’s stock.

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.