Getty Images’ (GETY) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Getty Images (NYSE:GETY) in a research note published on Tuesday morning,RTT News reports. The firm currently has a $7.70 target price on the stock.

Other analysts also recently issued reports about the company. Macquarie increased their price objective on Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.61.

Getty Images Stock Up 23.7 %

Shares of NYSE GETY opened at $3.18 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.79 and a quick ratio of 0.79. Getty Images has a 1 year low of $2.06 and a 1 year high of $5.77. The stock has a market capitalization of $1.31 billion, a P/E ratio of 26.50 and a beta of 1.93. The company has a 50-day moving average price of $2.93 and a 200-day moving average price of $3.34.

Insider Activity

In related news, Director Chinh Chu sold 48,400 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $4.05, for a total transaction of $196,020.00. Following the completion of the transaction, the director now owns 9,706,670 shares in the company, valued at approximately $39,312,013.50. This represents a 0.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig Warren Peters sold 32,753 shares of Getty Images stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $72,056.60. Following the completion of the sale, the chief executive officer now directly owns 1,212,648 shares in the company, valued at approximately $2,667,825.60. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,266,876 shares of company stock valued at $10,629,182 over the last three months. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Several institutional investors and hedge funds have recently bought and sold shares of GETY. State Street Corp lifted its position in shares of Getty Images by 46.3% during the 3rd quarter. State Street Corp now owns 1,474,167 shares of the company’s stock valued at $5,617,000 after buying an additional 466,521 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Getty Images in the 2nd quarter valued at about $910,000. Rhumbline Advisers purchased a new stake in Getty Images during the second quarter valued at about $392,000. Geode Capital Management LLC boosted its position in Getty Images by 5.6% during the third quarter. Geode Capital Management LLC now owns 1,663,955 shares of the company’s stock worth $6,340,000 after purchasing an additional 88,533 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Getty Images in the third quarter worth about $221,000. 45.75% of the stock is owned by institutional investors.

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.