Citigroup Trims Getty Images (NYSE:GETY) Target Price to $5.00

Getty Images (NYSE:GETY) had its price target lowered by Citigroup from $6.00 to $5.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on GETY. Benchmark decreased their price target on Getty Images from $8.00 to $6.00 and set a buy rating for the company in a research note on Friday, May 10th. Wedbush reaffirmed an outperform rating and set a $7.70 target price on shares of Getty Images in a research note on Monday, May 6th. Finally, Macquarie dropped their price target on shares of Getty Images from $4.00 to $3.50 and set a neutral rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Getty Images currently has a consensus rating of Moderate Buy and a consensus price target of $5.64.

Getty Images Price Performance

Shares of NYSE GETY opened at $3.33 on Tuesday. The firm’s 50-day simple moving average is $3.46 and its 200 day simple moving average is $3.93. The stock has a market cap of $1.36 billion, a P/E ratio of 55.50 and a beta of 2.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 2.01. Getty Images has a fifty-two week low of $2.88 and a fifty-two week high of $7.35.

Getty Images (NYSE:GETY) last released its quarterly earnings results on Friday, August 9th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $229.14 million for the quarter, compared to the consensus estimate of $228.42 million. Getty Images had a return on equity of 9.51% and a net margin of 4.19%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that Getty Images will post 0.13 EPS for the current year.

Insider Activity

In other news, General Counsel Kjelti Wilkes Kellough sold 8,273 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $3.23, for a total transaction of $26,721.79. Following the sale, the general counsel now directly owns 246,750 shares of the company’s stock, valued at $797,002.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Kjelti Wilkes Kellough sold 8,273 shares of Getty Images stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $3.23, for a total value of $26,721.79. Following the transaction, the general counsel now directly owns 246,750 shares of the company’s stock, valued at $797,002.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Daine Marc Weston sold 10,227 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $3.23, for a total transaction of $33,033.21. Following the completion of the sale, the vice president now owns 89,622 shares of the company’s stock, valued at approximately $289,479.06. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,378 shares of company stock worth $262,851. Insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC grew its position in Getty Images by 95.7% during 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. Spartan Fund Management Inc. purchased a new stake in shares of Getty Images during the second quarter worth $33,000. CIBC Asset Management Inc purchased a new position in Getty Images in the second quarter valued at about $36,000. Natixis acquired a new position in Getty Images in the 1st quarter worth about $42,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Getty Images during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors 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.