Getty Images (NYSE:GETY) Shares Gap Down Following Weak Earnings

Getty Images Holdings, Inc. (NYSE:GETY) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $2.15, but opened at $2.05. Getty Images shares last traded at $2.19, with a volume of 602,023 shares traded.

The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). Getty Images had a net margin of 5.91% and a return on equity of 6.42%. The business had revenue of $247.30 million for the quarter, compared to analysts’ expectations of $245.50 million. Getty Images’s revenue was up 9.5% compared to the same quarter last year.

Analysts Set New Price Targets

Several research firms have recently commented on GETY. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Macquarie restated a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and set a $7.70 target price on shares of Getty Images in a report on Thursday, March 13th. Finally, Benchmark lowered their target price on Getty Images from $6.00 to $4.50 and set a “buy” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Getty Images presently has an average rating of “Hold” and an average price target of $5.24.

Insider Activity at Getty Images

In other news, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $27,152.40. Following the completion of the transaction, the chief financial officer now directly owns 261,034 shares in the company, valued at $574,274.80. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig Warren Peters sold 32,753 shares of Getty Images stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $72,056.60. Following the completion of the transaction, the chief executive officer now directly owns 1,212,648 shares of the company’s stock, valued at approximately $2,667,825.60. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,521 shares of company stock valued at $155,146 in the last three months. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Getty Images

Several institutional investors have recently bought and sold shares of GETY. BNP Paribas Financial Markets bought a new position in shares of Getty Images in the fourth quarter worth approximately $27,000. Aristeia Capital L.L.C. bought a new position in Getty Images in the 4th quarter valued at approximately $28,000. Ameriprise Financial Inc. purchased a new stake in Getty Images during the 4th quarter valued at $28,000. Virtu Financial LLC bought a new stake in shares of Getty Images in the 4th quarter worth $33,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Getty Images in the fourth quarter worth $33,000. 45.75% of the stock is owned by hedge funds and other institutional investors.

Getty Images Stock Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $922.86 million, a P/E ratio of 18.71 and a beta of 1.97. The business has a fifty day moving average price of $2.44 and a 200-day moving average price of $2.99.

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.