Getty Images (NYSE:GETY) Sets New 1-Year Low – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $2.76 and last traded at $2.78, with a volume of 179112 shares traded. The stock had previously closed at $2.94.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Getty Images in a research note on Tuesday, August 13th. Macquarie boosted their target price on Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Citigroup decreased their price target on Getty Images from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

Getty Images Stock Down 7.1 %

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 24.50 and a beta of 1.86. The business’s fifty day simple moving average is $3.58 and its 200 day simple moving average is $3.54.

Insider Transactions at Getty Images

In other news, CEO Craig Warren Peters sold 32,170 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $3.61, for a total transaction of $116,133.70. Following the sale, the chief executive officer now owns 1,245,401 shares of the company’s stock, valued at $4,495,897.61. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chinh Chu sold 48,400 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $4.05, for a total value of $196,020.00. Following the completion of the transaction, the director now owns 9,706,670 shares of the company’s stock, valued at $39,312,013.50. This represents a 0.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,269,927 shares of company stock worth $10,739,630. 12.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Getty Images

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GETY. Kessler Investment Group LLC lifted its position in Getty Images by 47.6% during the 2nd quarter. Kessler Investment Group LLC now owns 31,580 shares of the company’s stock worth $103,000 after buying an additional 10,178 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in Getty Images during the second quarter worth about $49,000. Ninety One UK Ltd acquired a new position in Getty Images during the second quarter valued at approximately $583,000. Byrne Asset Management LLC grew its stake in Getty Images by 95.7% in the second quarter. Byrne Asset Management LLC now owns 9,200 shares of the company’s stock valued at $29,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Getty Images in the second quarter valued at approximately $910,000. 45.75% of the stock is owned by institutional investors and hedge funds.

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.