Getty Images (NYSE:GETY) Trading Up 7.8% – What’s Next?

Getty Images Holdings, Inc. (NYSE:GETY)’s share price was up 7.8% on Tuesday . The stock traded as high as $1.30 and last traded at $1.3040. Approximately 806,358 shares were traded during trading, a decline of 60% from the average daily volume of 2,041,139 shares. The stock had previously closed at $1.21.

Analysts Set New Price Targets

GETY has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Getty Images in a research report on Friday, October 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Getty Images in a research note on Wednesday, October 8th. Finally, Zacks Research raised Getty Images from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.03.

Getty Images Price Performance

The stock has a market cap of $538.54 million, a price-to-earnings ratio of -5.89 and a beta of 2.05. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.96. The company’s 50-day moving average is $1.60 and its 200-day moving average is $1.79.

Getty Images (NYSE:GETY) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $240.04 million for the quarter, compared to the consensus estimate of $239.98 million. Getty Images had a negative net margin of 9.60% and a negative return on equity of 11.38%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Equities research analysts expect that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Getty Images

In other Getty Images news, major shareholder Neuberger Berman Group Llc sold 3,470,917 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $2.27, for a total value of $7,878,981.59. Following the completion of the sale, the insider directly owned 70,641,345 shares of the company’s stock, valued at $160,355,853.15. This trade represents a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Cho Mikael sold 25,555 shares of Getty Images stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $2.11, for a total value of $53,921.05. Following the transaction, the senior vice president directly owned 131,348 shares of the company’s stock, valued at $277,144.28. The trade was a 16.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,584,654 shares of company stock worth $8,116,086. 11.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Getty Images

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GETY. Invenomic Capital Management LP purchased a new stake in Getty Images during the 1st quarter valued at $4,646,000. JPMorgan Chase & Co. raised its holdings in shares of Getty Images by 43.8% in the second quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock worth $4,041,000 after buying an additional 742,008 shares during the last quarter. Millennium Management LLC lifted its position in Getty Images by 1,202.9% during the 3rd quarter. Millennium Management LLC now owns 587,254 shares of the company’s stock worth $1,163,000 after acquiring an additional 542,181 shares during the period. TIG Advisors LLC purchased a new stake in Getty Images during the 1st quarter valued at about $654,000. Finally, Jane Street Group LLC purchased a new position in shares of Getty Images in the second quarter worth about $534,000. 45.75% of the stock is currently owned by hedge funds and other institutional investors.

About Getty Images

Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.

Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.