Key Points
- Insider sale: Getty Images insider Michael Teaster sold 38,100 shares on June 5 for about $30,099 at an average price of $0.79. The company said the sale was to cover tax withholding related to vesting equity awards.
- Stock and earnings pressure: Getty Images stock fell 3.9% and traded around $0.76, near its 12-month low of $0.67. The company recently reported a quarterly EPS loss of $0.01 and revenue below analyst expectations.
- Wall Street outlook remains cautious: Analysts currently have an average Hold rating on GETY with a consensus price target of $3.78. Individual targets remain mixed, ranging from a bullish $7.00 to a much lower $0.85.
Getty Images Holdings, Inc. (NYSE:GETY - Get Free Report) insider Michael Teaster sold 38,100 shares of Getty Images stock in a transaction on Friday, June 5th. The stock was sold at an average price of $0.79, for a total value of $30,099.00. Following the completion of the sale, the insider directly owned 488,862 shares of the company's stock, valued at approximately $386,200.98. The trade was a 7.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Michael Teaster also recently made the following trade(s):
- On Wednesday, March 25th, Michael Teaster sold 6,587 shares of Getty Images stock. The stock was sold at an average price of $0.78, for a total value of $5,137.86.
Getty Images Stock Down 3.9%
Getty Images stock opened at $0.76 on Friday. The firm has a market cap of $316.73 million, a price-to-earnings ratio of -2.91 and a beta of 2.03. The stock has a fifty day simple moving average of $0.88 and a two-hundred day simple moving average of $1.07. Getty Images Holdings, Inc. has a 12 month low of $0.67 and a 12 month high of $3.21. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.13.
Getty Images (NYSE:GETY - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.02). The business had revenue of $226.57 million during the quarter, compared to the consensus estimate of $238.90 million. Getty Images had a negative return on equity of 17.01% and a negative net margin of 10.94%. Equities analysts predict that Getty Images Holdings, Inc. will post -0.03 EPS for the current fiscal year.
Institutional Trading of Getty Images
Several hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Getty Images by 47.2% during 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. The Manufacturers Life Insurance Company grew its holdings in Getty Images by 16.1% during the second quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company's stock valued at $82,000 after purchasing an additional 6,856 shares during the period. Alliancebernstein L.P. grew its holdings in Getty Images by 12.4% during the third quarter. Alliancebernstein L.P. now owns 80,520 shares of the company's stock valued at $159,000 after purchasing an additional 8,900 shares during the period. Intech Investment Management LLC grew its holdings in Getty Images by 14.7% during the fourth quarter. Intech Investment Management LLC now owns 71,564 shares of the company's stock valued at $96,000 after purchasing an additional 9,173 shares during the period. Finally, Polymer Capital Management US LLC grew its holdings in Getty Images by 7.9% during the third quarter. Polymer Capital Management US LLC now owns 136,798 shares of the company's stock valued at $271,000 after purchasing an additional 10,007 shares during the period. Institutional investors own 45.75% of the company's stock.
Analysts Set New Price Targets
GETY has been the subject of several research analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of Getty Images in a report on Tuesday, May 12th. Citigroup cut their price objective on Getty Images from $1.85 to $0.85 and set a "neutral" rating for the company in a report on Monday, February 23rd. Weiss Ratings lowered Getty Images from a "sell (d)" rating to a "sell (e+)" rating in a report on Tuesday, May 12th. Finally, Zacks Research raised Getty Images from a "strong sell" rating to a "hold" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $3.78.
Read Our Latest Stock Analysis on Getty Images
About Getty Images
(
Get Free Report)
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.
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