Getty Images (NYSE:GETY) Stock Price Up 5.2% - Here's Why

Key Points

• Getty Images stock rose 5.2% recently, trading as high as $1.96, despite a significant drop in trading volume.
• Analysts have varied opinions on Getty Images, with one brokerage upgrading it to a "strong-buy" while others have issued sell or hold ratings, leading to a consensus rating of "Hold" and an average price target of $4.35.
• The company reported a quarterly earnings miss with an EPS of ($0.14), falling short of expectations, and a revenue of $224.08 million, which was below the anticipated $236.01 million.

Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) shares were up 5.2% on Tuesday . The company traded as high as $1.96 and last traded at $1.94. Approximately 116,224 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,766,260 shares. The stock had previously closed at $1.84.

Analysts Set New Price Targets

Several brokerages recently issued reports on GETY. Wedbush upgraded shares of Getty Images to a "strong-buy" rating in a report on Tuesday, July 1st. Wall Street Zen lowered Getty Images from a "buy" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Benchmark cut their price target on Getty Images from $4.50 to $3.50 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Getty Images currently has a consensus rating of "Hold" and an average price target of $4.35.

Getty Images Stock Performance

The firm has a market cap of $781.92 million, a PE ratio of -9.97 and a beta of 1.87. The business has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $2.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.04.

Getty Images (NYSE:GETY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.17). The business had revenue of $224.08 million for the quarter, compared to analysts' expectations of $236.01 million. Getty Images had a negative net margin of 8.13% and a negative return on equity of 8.87%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. As a group, equities research analysts forecast that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 33,262 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1.77, for a total transaction of $58,873.74. Following the completion of the transaction, the chief executive officer directly owned 1,279,686 shares of the company's stock, valued at approximately $2,265,044.22. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 80,010 shares of company stock worth $141,618 over the last 90 days. 11.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.

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