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Getty Images (NYSE:GETY) Trading Up 9.3% - Here's What Happened

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Key Points

  • Getty Images shares increased by 9.3% during trading on Wednesday, reaching a last price of $1.83 despite a significant decline in trading volume.
  • Recent analyst reports show a mix of downgrades, with Wedbush lowering its target price to $7.00 and Wall Street Zen changing its rating to sell, reflecting a generally cautious outlook on the stock.
  • Getty Images reported a notable earnings miss with ($0.08) EPS compared to an expected $0.03, though revenue exceeded expectations at $234.88 million, marking a 2.5% year-over-year increase.
  • Looking to export and analyze Getty Images data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shares of Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) rose 9.3% during trading on Wednesday . The company traded as high as $1.82 and last traded at $1.83. Approximately 554,708 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,694,155 shares. The stock had previously closed at $1.67.

Analyst Upgrades and Downgrades

GETY has been the subject of a number of recent analyst reports. Wedbush lowered their target price on shares of Getty Images from $7.70 to $7.00 and set an "outperform" rating for the company in a research note on Tuesday. Wall Street Zen lowered shares of Getty Images from a "buy" rating to a "sell" rating in a research report on Thursday, May 22nd. Citigroup reissued a "neutral" rating and set a $1.85 price target (down from $2.05) on shares of Getty Images in a research report on Tuesday. Finally, Benchmark lowered shares of Getty Images from a "buy" rating to a "hold" rating and set a $3.50 price target for the company. in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $4.03.

Check Out Our Latest Stock Report on GETY

Getty Images Stock Performance

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $763.25 million, a PE ratio of -6.57 and a beta of 1.87. The firm's fifty day moving average price is $1.77 and its two-hundred day moving average price is $1.93.

Getty Images (NYSE:GETY - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.11). The firm had revenue of $234.88 million for the quarter, compared to analysts' expectations of $234.77 million. Getty Images had a negative net margin of 12.19% and a negative return on equity of 14.19%. Getty Images's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. As a group, equities research analysts forecast that Getty Images Holdings, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In other Getty Images news, CEO Craig Warren Peters sold 33,262 shares of Getty Images stock in a transaction 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 sale, the chief executive officer owned 1,279,686 shares of the company's stock, valued at $2,265,044.22. The trade was a 2.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 80,010 shares of company stock valued at $141,618. 11.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Getty Images

Institutional investors and hedge funds have recently bought and sold shares of the business. Koch Inc. acquired a new position in shares of Getty Images during the 4th quarter valued at about $174,385,000. Vanguard Group Inc. boosted its position in shares of Getty Images by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 10,471,652 shares of the company's stock valued at $18,116,000 after acquiring an additional 246,403 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of Getty Images during the 1st quarter valued at about $4,646,000. JPMorgan Chase & Co. boosted its position in shares of Getty Images by 43.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company's stock valued at $4,041,000 after acquiring an additional 742,008 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Getty Images by 14.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,866,490 shares of the company's stock valued at $3,099,000 after acquiring an additional 228,532 shares during the last quarter. 45.75% of the stock is currently owned by institutional investors and hedge funds.

Getty Images Company Profile

(Get Free Report)

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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