Getty Images (NYSE:GETY) Trading Up 9.3% - Should You Buy?

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.

Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report)'s share price was up 9.3% during mid-day trading on Wednesday . The company traded as high as $1.82 and last traded at $1.83. Approximately 554,708 shares were traded 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.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup restated a "neutral" rating and issued a $1.85 price target (down from $2.05) on shares of Getty Images in a research note on Tuesday, August 12th. Zacks Research raised shares of Getty Images to a "hold" rating in a report on Friday, August 8th. Wedbush lowered their target price on shares of Getty Images from $7.70 to $7.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Benchmark downgraded 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, August 12th. Finally, Wall Street Zen upgraded Getty Images from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Getty Images currently has an average rating of "Hold" and a consensus price target of $4.03.

Getty Images Trading Up 6.4%

The firm's fifty day simple moving average is $1.78 and its 200 day simple moving average is $1.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $798.51 million, a P/E ratio of -6.88 and a beta of 1.87.

Getty Images (NYSE:GETY - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.11). Getty Images had a negative net margin of 12.19% and a negative return on equity of 14.39%. The firm had revenue of $234.88 million for the quarter, compared to analyst estimates of $234.77 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Getty Images Holdings, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at Getty Images

In related news, CEO Craig Warren Peters sold 33,262 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $1.77, for a total value of $58,873.74. Following the sale, the chief executive officer directly owned 1,279,686 shares of the company's stock, valued at $2,265,044.22. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 80,010 shares of company stock worth $141,618. 11.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in Getty Images by 15.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,897 shares of the company's stock worth $80,000 after purchasing an additional 4,826 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Getty Images by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company's stock worth $82,000 after purchasing an additional 6,856 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Getty Images by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 28,255 shares of the company's stock valued at $61,000 after buying an additional 9,297 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Getty Images by 25.4% in the fourth quarter. JPMorgan Chase & Co. now owns 46,590 shares of the company's stock valued at $101,000 after buying an additional 9,434 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Getty Images by 19.3% in the 2nd quarter. Intech Investment Management LLC now owns 68,843 shares of the company's stock valued at $114,000 after buying an additional 11,121 shares during the last quarter. 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.