Getty Images (NYSE:GETY) Reaches New 12-Month Low – Here’s Why

Getty Images Holdings, Inc. (NYSE:GETY)’s share price hit a new 52-week low on Tuesday . The company traded as low as $2.84 and last traded at $2.84, with a volume of 17057 shares traded. The stock had previously closed at $2.90.

Analysts Set New Price Targets

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

Getty Images Stock Performance

The business has a 50 day moving average price of $3.74 and a two-hundred day moving average price of $3.61. The stock has a market cap of $1.17 billion, a P/E ratio of 24.17 and a beta of 2.02. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84.

Insider Activity

In other Getty Images news, CFO Jennifer Leyden sold 12,124 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $3.61, for a total transaction of $43,767.64. Following the sale, the chief financial officer now owns 273,376 shares of the company’s stock, valued at approximately $986,887.36. This trade represents a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Chinh Chu sold 17,122 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $4.01, for a total value of $68,659.22. Following the completion of the sale, the director now directly owns 9,846,814 shares of the company’s stock, valued at approximately $39,485,724.14. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 169,427 shares of company stock worth $652,130. 12.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Getty Images

A number of hedge funds have recently bought and sold shares of the business. Natixis purchased a new stake in shares of Getty Images in the first quarter valued at approximately $42,000. EntryPoint Capital LLC acquired a new position in shares of Getty Images during the first quarter worth $47,000. Kessler Investment Group LLC raised its position in shares of 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 acquiring an additional 10,178 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Getty Images in the 2nd quarter valued at $49,000. Finally, Ninety One UK Ltd acquired a new position in Getty Images during the second quarter worth approximately $583,000. Hedge funds and other institutional investors own 45.75% of the company’s stock.

Getty Images Company Profile

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.