Getty Images (NYSE:GETY) Sets New 12-Month Low – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY) shares hit a new 52-week low during trading on Monday . The company traded as low as $2.08 and last traded at $2.10, with a volume of 89176 shares trading hands. The stock had previously closed at $2.19.

Analyst Upgrades and Downgrades

GETY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. Macquarie raised their price target on shares of Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. 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 stock has a consensus rating of “Hold” and an average price target of $5.61.

Getty Images Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84. The company has a 50 day simple moving average of $3.14 and a 200-day simple moving average of $3.40. The stock has a market cap of $875.59 million, a price-to-earnings ratio of 17.75 and a beta of 1.86.

Insider Activity at Getty Images

In related news, Director Chinh Chu sold 8,243 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $4.01, for a total transaction of $33,054.43. Following the completion of the transaction, the director now directly owns 9,795,163 shares in the company, valued at $39,278,603.63. This represents a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the insider now owns 74,175,262 shares in the company, valued at $182,471,144.52. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,266,876 shares of company stock valued at $10,629,182. Corporate insiders own 12.30% of the company’s stock.

Institutional Trading of Getty Images

Large investors have recently modified their holdings of the company. CIBC Asset Management Inc acquired a new position in Getty Images during the 2nd quarter valued at about $36,000. Intech Investment Management LLC acquired a new position in shares of Getty Images during the third quarter worth approximately $44,000. Principal Financial Group Inc. acquired a new position in shares of Getty Images during the second quarter worth approximately $44,000. Aigen Investment Management LP bought a new position in Getty Images in the 3rd quarter worth approximately $48,000. Finally, Renaissance Technologies LLC acquired a new stake in Getty Images in the 2nd quarter valued at approximately $91,000. 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.