The Goldman Sachs Group Cuts Getty Images (NYSE:GETY) Price Target to $6.00

Getty Images (NYSE:GETY – Get Rating) had its target price lowered by The Goldman Sachs Group from $7.00 to $6.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. Benchmark dropped their price target on shares of Getty Images from $9.00 to $7.00 in a report on Tuesday, March 14th. Citigroup raised shares of Getty Images from a neutral rating to a buy rating and dropped their price target for the company from $33.00 to $8.00 in a report on Tuesday, November 15th. Redburn Partners raised shares of Getty Images from a neutral rating to a buy rating and dropped their price target for the company from $9.90 to $5.70 in a report on Wednesday, November 23rd. Finally, Wedbush reaffirmed an outperform rating and set a $6.00 price target on shares of Getty Images in a report on Tuesday, March 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $6.83.

Getty Images Trading Down 8.8 %

Shares of Getty Images stock opened at $4.47 on Wednesday. Getty Images has a 1 year low of $4.40 and a 1 year high of $37.88. The firm’s 50-day moving average is $5.84 and its 200 day moving average is $6.51. The company has a current ratio of 0.84, a quick ratio of 0.74 and a debt-to-equity ratio of 2.41.

Getty Images (NYSE:GETY – Get Rating) last announced its quarterly earnings data on Monday, March 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.16). The company had revenue of $231.47 million for the quarter, compared to the consensus estimate of $242.00 million. As a group, equities analysts anticipate that Getty Images will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Getty Images news, major shareholder Neuberger Berman Group Llc sold 73,555 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $7.89, for a total transaction of $580,348.95. Following the sale, the insider now owns 64,523,168 shares in the company, valued at approximately $509,087,795.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

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. Carlyle Group Inc. bought a new stake in shares of Getty Images during the fourth quarter valued at approximately $66,061,000. Charles Schwab Investment Management Inc. raised its position in shares of Getty Images by 167.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,987 shares of the company’s stock valued at $172,000 after buying an additional 19,394 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Getty Images by 90,312.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 28,932 shares of the company’s stock valued at $160,000 after buying an additional 28,900 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Getty Images by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 22,850 shares of the company’s stock valued at $127,000 after buying an additional 8,725 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of Getty Images during the third quarter valued at approximately $110,000.

Getty Images Company Profile

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Getty Images Holdings, Inc operates as a visual content creator and marketplace in the United States and internationally. It maintains privately-owned photographic archives covering approximately 160,000 news, sport, and entertainment events, as well as variety of subjects, including lifestyle, business, science, health and beauty, sports, transportation, and travel under the Getty Images, iStock, and Unsplash brands.