Getty Images (NYSE:GETY – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
GETY has been the subject of a number of other reports. Weiss Ratings downgraded Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Wedbush restated an “outperform” rating and set a $7.00 target price on shares of Getty Images in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.78.
Get Our Latest Research Report on Getty Images
Getty Images Trading Down 1.8%
Getty Images (NYSE:GETY – Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.01) earnings per share 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 analysts’ expectations of $238.90 million. Getty Images had a negative net margin of 10.94% and a negative return on equity of 17.01%. Sell-side analysts forecast that Getty Images will post -0.01 EPS for the current year.
Insider Buying and Selling
In related news, SVP Cho Mikael sold 33,143 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $0.94, for a total transaction of $31,154.42. Following the completion of the transaction, the senior vice president owned 162,904 shares in the company, valued at approximately $153,129.76. This represents a 16.91% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Teaster sold 38,100 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $0.79, for a total transaction of $30,099.00. Following the transaction, the insider directly owned 488,862 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 133,355 shares of company stock valued at $120,542. Insiders own 12.50% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC purchased a new stake in shares of Getty Images in the second quarter worth about $32,000. BNP Paribas Financial Markets raised its holdings in shares of Getty Images by 103.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 21,794 shares of the company’s stock worth $43,000 after acquiring an additional 11,066 shares in the last quarter. Certuity LLC bought a new position in shares of Getty Images during the 4th quarter valued at approximately $33,000. Founders Financial Securities LLC purchased a new position in shares of Getty Images in the fourth quarter valued at $35,000. Finally, Creative Planning bought a new stake in Getty Images in the second quarter worth $75,000. 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.
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