Getty Images (NYSE:GETY) Hits New 12-Month Low – Here’s Why

Getty Images Holdings, Inc. (NYSE:GETY) hit a new 52-week low on Monday . The stock traded as low as $2.03 and last traded at $2.04, with a volume of 374668 shares changing hands. The stock had previously closed at $2.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GETY shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Getty Images in a research report on Friday, January 10th. Macquarie reaffirmed a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a report on Wednesday, January 8th. Finally, Wedbush reissued an “outperform” rating and set a $7.70 target price on shares of Getty Images in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.61.

Getty Images Price Performance

The stock has a market cap of $830.37 million, a PE ratio of 16.83 and a beta of 1.95. The business’s 50-day simple moving average is $2.50 and its 200-day simple moving average is $3.10. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84.

Insider Transactions at Getty Images

In other news, CEO Craig Warren Peters sold 32,753 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total value of $72,056.60. Following the transaction, the chief executive officer now owns 1,212,648 shares in the company, valued at approximately $2,667,825.60. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total transaction of $27,152.40. Following the sale, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at $574,274.80. This trade represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,521 shares of company stock valued at $155,146. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Several institutional investors have recently made changes to their positions in the business. Koch Inc. bought a new position in shares of Getty Images in the fourth quarter worth about $183,865,000. Vanguard Group Inc. raised its stake in Getty Images by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 10,225,249 shares of the company’s stock worth $22,087,000 after acquiring an additional 698,829 shares during the period. Geode Capital Management LLC lifted its holdings in Getty Images by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,675,635 shares of the company’s stock valued at $3,620,000 after purchasing an additional 11,680 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Getty Images in the fourth quarter worth approximately $3,553,000. Finally, State Street Corp increased its stake in shares of Getty Images by 46.3% in the third quarter. State Street Corp now owns 1,474,167 shares of the company’s stock worth $5,617,000 after purchasing an additional 466,521 shares in the last quarter. Institutional investors own 45.75% of the company’s stock.

Getty Images Company Profile

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.