Getty Images (NYSE:GETY) Reaches New 52-Week Low – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $1.16 and last traded at $1.1650, with a volume of 1102709 shares trading hands. The stock had previously closed at $1.32.

Analyst Ratings Changes

GETY has been the topic of several analyst reports. Zacks Research upgraded shares of Getty Images from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 15th. Weiss Ratings restated a “sell (d)” rating on shares of Getty Images in a report on Thursday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $7.00 target price on shares of Getty Images in a research note on Friday, October 31st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.12.

Getty Images Stock Performance

The firm has a market cap of $484.48 million, a P/E ratio of -5.30 and a beta of 2.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.71 and a current ratio of 0.71. The business’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $1.71.

Getty Images (NYSE:GETY) last released its quarterly earnings results on Monday, November 10th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Getty Images had a negative return on equity of 11.38% and a negative net margin of 9.60%.The firm had revenue of $240.04 million for the quarter, compared to analysts’ expectations of $239.98 million. During the same period in the prior year, the firm earned ($0.01) EPS. The company’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that Getty Images Holdings, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CEO Craig Warren Peters sold 31,298 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $1.27, for a total transaction of $39,748.46. Following the completion of the sale, the chief executive officer owned 1,215,438 shares of the company’s stock, valued at $1,543,606.26. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 76,397 shares of company stock worth $97,275. Insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Getty Images

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

Getty Images Company Profile

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.