Wedbush Reiterates “Outperform” Rating for Getty Images (NYSE:GETY)

Getty Images (NYSE:GETY)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $7.70 price objective on the stock. Wedbush’s target price would indicate a potential upside of 142.14% from the stock’s previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Getty Images in a research note on Wednesday, December 18th. Macquarie raised their price target on Getty Images from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.61.

Getty Images Price Performance

GETY traded up $0.61 during midday trading on Tuesday, hitting $3.18. The stock had a trading volume of 65,531,353 shares, compared to its average volume of 19,022,533. The company has a market cap of $1.31 billion, a P/E ratio of 26.50 and a beta of 1.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. Getty Images has a 1 year low of $2.06 and a 1 year high of $5.77. The business has a fifty day moving average of $2.94 and a 200 day moving average of $3.35.

Insider Buying and Selling at Getty Images

In other Getty Images news, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total value of $27,152.40. Following the completion of the sale, the chief financial officer now directly owns 261,034 shares in the company, valued at $574,274.80. This trade represents a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig Warren Peters sold 32,753 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $2.20, for a total value of $72,056.60. Following the transaction, the chief executive officer now directly owns 1,212,648 shares in the company, valued at $2,667,825.60. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,266,876 shares of company stock valued at $10,629,182 in the last quarter. 12.30% of the stock is owned by insiders.

Institutional Trading of Getty Images

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc acquired a new stake in Getty Images in the 2nd quarter worth about $36,000. Intech Investment Management LLC acquired a new stake in shares of Getty Images in the third quarter valued at about $44,000. Principal Financial Group Inc. acquired a new position in Getty Images during the second quarter worth about $44,000. Aigen Investment Management LP purchased a new stake in Getty Images during the 3rd quarter valued at about $48,000. Finally, Renaissance Technologies LLC purchased a new position in Getty Images in the 2nd quarter worth approximately $91,000. Institutional investors and hedge funds 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.