Insider Selling: Getty Images (NYSE:GETY) CMO Sells 31,576 Shares of Stock

Getty Images Holdings, Inc. (NYSE:GETY) CMO Gene Foca sold 31,576 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $0.78, for a total value of $24,629.28. Following the transaction, the chief marketing officer owned 507,651 shares of the company’s stock, valued at approximately $395,967.78. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Getty Images Stock Performance

GETY stock opened at $0.75 on Friday. Getty Images Holdings, Inc. has a 1 year low of $0.67 and a 1 year high of $3.21. The stock has a market capitalization of $312.07 million, a price-to-earnings ratio of -1.49 and a beta of 2.13. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s fifty day moving average is $0.96 and its two-hundred day moving average is $1.45.

Getty Images (NYSE:GETY) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.25). Getty Images had a negative return on equity of 25.05% and a negative net margin of 21.00%.The firm had revenue of $282.29 million for the quarter, compared to the consensus estimate of $246.17 million. On average, research analysts predict that Getty Images Holdings, Inc. will post 0.08 EPS for the current year.

Getty Images News Roundup

Here are the key news stories impacting Getty Images this week:

• Neutral Sentiment: Insider sales can reflect personal liquidity needs, option exercises or diversification rather than loss of confidence; however, clustered sales by many senior executives are typically viewed negatively by the market.
• Negative Sentiment: CEO Craig Warren Peters sold 167,403 shares (~11.49% reduction), receiving $130,574.34. This is the largest single insider sale reported and is likely the most impactful on sentiment. CEO Sale Filing
• Negative Sentiment: Grant Farhall sold 42,022 shares (12.73% reduction), proceeds ~$32,777. Grant Farhall Filing
• Negative Sentiment: CMO Gene Foca sold 31,576 shares (5.86% reduction), proceeds ~$24,629. Gene Foca Filing
• Negative Sentiment: CFO Jennifer Leyden sold 31,576 shares (9.06% reduction), proceeds ~$24,629. Jennifer Leyden Filing
• Negative Sentiment: SVP Kenneth Arrigo Mainardis sold 29,565 shares (11.96% reduction), proceeds ~$23,060. Kenneth Arrigo Filing
• Negative Sentiment: SVP Peter Orlowsky sold 22,081 shares (8.03% reduction), proceeds ~$17,223. Peter Orlowsky Filing
• Negative Sentiment: CTO Nathaniel Gandert sold 21,349 shares (3.49% reduction), proceeds ~$16,652. Nathaniel Gandert Filing
• Negative Sentiment: VP Daine Marc Weston sold 12,928 shares (8.34% reduction), proceeds ~$10,084. Daine Marc Weston Filing
• Negative Sentiment: Cho Mikael (SVP) reported two sales totaling 26,476 shares (combined ~18.44% & 5.30 reductions), proceeds combined ~$20,650. Cho Mikael Filing
• Negative Sentiment: Insider Michael Teaster sold 6,587 shares (2.47% reduction), proceeds ~$5,138. Michael Teaster Filing

Analyst Ratings Changes

GETY has been the subject of several recent analyst reports. Zacks Research cut shares of Getty Images from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Citigroup reduced their price objective on Getty Images from $1.85 to $0.85 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Getty Images in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Getty Images currently has an average rating of “Reduce” and a consensus target price of $3.78.

Institutional Investors Weigh In On Getty Images

Institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in Getty Images in the 3rd quarter valued at about $25,000. Cerity Partners LLC bought a new stake in shares of Getty Images during the 2nd quarter worth about $32,000. Certuity LLC bought a new stake in shares of Getty Images during the 4th quarter worth about $33,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Getty Images by 47.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,870 shares of the company’s stock worth $33,000 after acquiring an additional 5,089 shares during the period. Finally, Founders Financial Securities LLC acquired a new stake in shares of Getty Images in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 45.75% of the company’s stock.

About Getty Images

Getty Images (NYSE: GETY) is a leading global provider of digital visual content, offering an extensive library of stock photography, editorial imagery, video footage and music. The company supplies creative and rights-managed assets to a broad range of industries, including advertising, media, corporate communications and publishing. Through its online platform and licensing services, Getty Images enables customers to search, license and download multimedia content for commercial and editorial use.

Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images pioneered the aggregation of photographic archives into a centralized, digital marketplace.