Getty Images (NYSE:GETY) Shares Gap Down – What’s Next?

Getty Images Holdings, Inc. (NYSE:GETY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $4.37, but opened at $4.08. Getty Images shares last traded at $3.94, with a volume of 48,380 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GETY shares. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Getty Images in a research note on Tuesday, August 13th. Citigroup dropped their price target on Getty Images from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Macquarie reduced their price objective on Getty Images from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Monday, August 12th.

Getty Images Stock Performance

The company’s 50-day simple moving average is $3.79 and its 200-day simple moving average is $3.64. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 54.63 and a beta of 2.02. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.92.

Getty Images (NYSE:GETY) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $229.14 million during the quarter, compared to analyst estimates of $228.42 million. Getty Images had a net margin of 4.19% and a return on equity of 9.36%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, analysts expect that Getty Images Holdings, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other Getty Images news, Director Chinh Chu sold 17,122 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $4.01, for a total transaction of $68,659.22. Following the completion of the transaction, the director now owns 9,846,814 shares in the company, valued at approximately $39,485,724.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Chinh Chu sold 17,122 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $4.01, for a total value of $68,659.22. Following the transaction, the director now directly owns 9,846,814 shares of the company’s stock, valued at $39,485,724.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kjelti Wilkes Kellough sold 8,070 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $3.61, for a total value of $29,132.70. Following the sale, the general counsel now directly owns 258,630 shares of the company’s stock, valued at $933,654.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 169,427 shares of company stock valued at $652,130. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in shares of Getty Images during the second quarter valued at approximately $910,000. Ninety One UK Ltd bought a new stake in shares of Getty Images during the second quarter worth about $583,000. Rhumbline Advisers acquired a new stake in shares of Getty Images in the 2nd quarter worth about $392,000. The Manufacturers Life Insurance Company lifted its position in Getty Images by 136.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,268 shares of the company’s stock valued at $223,000 after acquiring an additional 39,423 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Getty Images by 138.5% during the 3rd quarter. Victory Capital Management Inc. now owns 59,145 shares of the company’s stock valued at $225,000 after purchasing an additional 34,349 shares during the last quarter. Institutional investors and hedge funds 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.