Getty Images (NYSE:GETY) Shares Gap Up – Time to Buy?

Getty Images Holdings, Inc. (NYSE:GETY)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.57, but opened at $3.70. Getty Images shares last traded at $3.62, with a volume of 37,283,006 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Macquarie reissued a “neutral” rating and issued a $3.75 price objective on shares of Getty Images in a research note on Wednesday. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Finally, Wedbush restated an “outperform” rating and set a $7.70 price objective on shares of Getty Images in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.61.

Getty Images Trading Down 18.2 %

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $1.07 billion, a P/E ratio of 21.75 and a beta of 1.93. The firm has a 50 day simple moving average of $2.90 and a two-hundred day simple moving average of $3.34.

Insider Activity

In other Getty Images news, Director Chinh Chu sold 17,122 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $4.01, for a total value of $68,659.22. Following the completion of the transaction, the director now owns 9,846,814 shares in the company, valued at $39,485,724.14. This represents a 0.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $2.46, for a total value of $10,086,000.00. Following the sale, the insider now directly owns 74,175,262 shares of the company’s stock, valued at approximately $182,471,144.52. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,266,876 shares of company stock worth $10,629,182 over the last quarter. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Getty Images by 46.3% in the 3rd 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 during the period. Bank of New York Mellon Corp purchased a new stake in Getty Images in the second quarter worth $910,000. Rhumbline Advisers bought a new stake in shares of Getty Images in the second quarter valued at $392,000. Geode Capital Management LLC lifted its position in shares of Getty Images by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,663,955 shares of the company’s stock valued at $6,340,000 after buying an additional 88,533 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Getty Images during the 3rd quarter worth $221,000. 45.75% of the stock is currently owned by hedge funds and other institutional investors.

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.