Getty Images (NYSE:GETY) Stock Price Up 7.8% – Here’s Why

Getty Images Holdings, Inc. (NYSE:GETY) traded up 7.8% during trading on Tuesday . The company traded as high as $1.30 and last traded at $1.3040. 806,358 shares changed hands during trading, a decline of 60% from the average session volume of 2,041,139 shares. The stock had previously closed at $1.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GETY. Weiss Ratings restated a “sell (d)” rating on shares of Getty Images in a report on Wednesday, October 8th. Wedbush reissued an “outperform” rating and issued a $7.00 target price on shares of Getty Images in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of Getty Images from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.03.

Getty Images Trading Up 7.0%

The stock has a market cap of $538.54 million, a PE ratio of -5.89 and a beta of 2.05. The business has a 50 day moving average of $1.60 and a 200-day moving average of $1.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.96.

Getty Images (NYSE:GETY) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $240.04 million during the quarter, compared to analyst estimates of $239.98 million. Getty Images had a negative net margin of 9.60% and a negative return on equity of 11.38%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. On average, analysts anticipate that Getty Images Holdings, Inc. will post 0.08 EPS for the current year.

Insider Activity

In other Getty Images news, major shareholder Neuberger Berman Group Llc sold 3,470,917 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $2.27, for a total transaction of $7,878,981.59. Following the completion of the sale, the insider directly owned 70,641,345 shares in the company, valued at $160,355,853.15. The trade was a 4.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cho Mikael sold 25,555 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $2.11, for a total transaction of $53,921.05. Following the completion of the sale, the senior vice president directly owned 131,348 shares of the company’s stock, valued at $277,144.28. The trade was a 16.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,584,654 shares of company stock valued at $8,116,086 over the last 90 days. 11.20% of the stock is currently owned by insiders.

Institutional Trading of Getty Images

Institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue acquired a new stake in shares of Getty Images in the third quarter valued at about $25,000. Catalyst Funds Management Pty Ltd purchased a new position in Getty Images in the 2nd quarter worth approximately $30,000. Cerity Partners LLC acquired a new stake in Getty Images in the second quarter valued at approximately $32,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Getty Images by 47.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,870 shares of the company’s stock valued at $33,000 after purchasing an additional 5,089 shares during the period. Finally, Savant Capital LLC acquired a new stake in Getty Images during the 3rd quarter valued at $40,000. 45.75% of the stock is owned by hedge funds and other institutional investors.

About Getty Images

Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.

Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.