Getty Images (NYSE:GETY) Shares Gap Up – Still a Buy?

Getty Images Holdings, Inc. (NYSE:GETY) gapped up prior to trading on Monday . The stock had previously closed at $0.6051, but opened at $1.40. Getty Images shares last traded at $1.2950, with a volume of 128,193,180 shares.

Analysts Set New Price Targets

Several research firms have issued reports on GETY. Zacks Research raised Getty Images from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Citigroup decreased their price objective on Getty Images from $1.85 to $0.85 and set a “neutral” rating for the company in a report on Monday, February 23rd. Weiss Ratings lowered Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Finally, Wedbush restated an “outperform” rating and issued a $7.00 target price on shares of Getty Images in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.78.

Getty Images Price Performance

The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.76 and a current ratio of 0.76. The company has a fifty day moving average price of $0.86 and a two-hundred day moving average price of $1.01. The company has a market cap of $450.38 million, a P/E ratio of -4.21 and a beta of 2.03.

Getty Images (NYSE:GETY) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $226.57 million for the quarter, compared to analyst estimates of $238.90 million. Getty Images had a negative net margin of 10.94% and a negative return on equity of 17.01%. On average, sell-side analysts anticipate that Getty Images Holdings, Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Grant Farhall sold 42,022 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $0.78, for a total value of $32,777.16. Following the completion of the transaction, the insider directly owned 288,190 shares of the company’s stock, valued at approximately $224,788.20. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Teaster sold 38,100 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $0.79, for a total transaction of $30,099.00. Following the transaction, the insider owned 488,862 shares in the company, valued at approximately $386,200.98. The trade was a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 429,663 shares of company stock valued at $335,518. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Koch Inc. raised its holdings in shares of Getty Images by 42.8% in the 4th quarter. Koch Inc. now owns 115,259,246 shares of the company’s stock valued at $154,447,000 after purchasing an additional 34,525,639 shares during the period. Callodine Capital Management LP grew its holdings in Getty Images by 20.0% during the first quarter. Callodine Capital Management LP now owns 600,000 shares of the company’s stock worth $476,000 after purchasing an additional 100,000 shares during the period. Alpine Global Management LLC bought a new position in Getty Images during the fourth quarter worth about $98,000. Ionic Capital Management LLC acquired a new position in Getty Images during the fourth quarter worth approximately $248,000. Finally, BNP Paribas Financial Markets increased its position in Getty Images by 103.2% during the third quarter. BNP Paribas Financial Markets now owns 21,794 shares of the company’s stock worth $43,000 after buying an additional 11,066 shares during the last quarter. Institutional investors own 45.75% of the company’s stock.

Getty Images Company Profile

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.