Getty Images (NYSE:GETY) Stock Price Up 7.5% – Here’s What Happened

Getty Images Holdings, Inc. (NYSE:GETY) rose 7.5% on Monday . The company traded as high as $2.60 and last traded at $2.57. Approximately 244,934 shares were traded during trading, a decline of 92% from the average daily volume of 3,008,002 shares. The stock had previously closed at $2.39.

Analyst Ratings Changes

GETY has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $7.70 target price on shares of Getty Images in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Getty Images in a research report on Wednesday, December 18th. Finally, Macquarie reissued a “neutral” rating and set a $3.75 target price on shares of Getty Images in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Getty Images has an average rating of “Hold” and an average price target of $5.61.

Getty Images Price Performance

The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84. The firm has a market cap of $1.07 billion, a PE ratio of 21.75 and a beta of 1.93. The stock has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $3.34.

Insider Buying and Selling at Getty Images

In related news, Director Chinh Chu sold 17,122 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $4.01, for a total value of $68,659.22. Following the sale, the director now owns 9,846,814 shares in the company, valued at $39,485,724.14. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $27,152.40. Following the transaction, the chief financial officer now directly owns 261,034 shares of the company’s stock, valued at $574,274.80. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,266,876 shares of company stock worth $10,629,182. 12.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Getty Images

Several hedge funds have recently added to or reduced their stakes in GETY. CIBC Asset Management Inc purchased a new position in shares of Getty Images during the 2nd quarter valued at about $36,000. Intech Investment Management LLC purchased a new position in Getty Images during the third quarter valued at approximately $44,000. Principal Financial Group Inc. acquired a new position in Getty Images in the second quarter valued at approximately $44,000. Aigen Investment Management LP purchased a new stake in Getty Images in the 3rd quarter worth approximately $48,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Getty Images during the 2nd quarter worth approximately $91,000. 45.75% of the stock is owned by hedge funds and other institutional investors.

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.