Getty Images (NYSE:GETY) Posts Earnings Results, Misses Estimates By $0.04 EPS

Getty Images (NYSE:GETY) posted its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. The company had revenue of $282.29 million during the quarter, compared to analyst estimates of $246.17 million. Getty Images had a negative net margin of 9.60% and a negative return on equity of 11.38%.

Getty Images Stock Up 6.5%

Shares of GETY stock traded up $0.05 during trading on Monday, reaching $0.77. The company’s stock had a trading volume of 2,164,971 shares, compared to its average volume of 3,022,043. Getty Images has a 1-year low of $0.67 and a 1-year high of $3.21. The stock’s 50-day moving average price is $1.06 and its 200 day moving average price is $1.52. The company has a market capitalization of $321.88 million, a price-to-earnings ratio of -3.52 and a beta of 2.14. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.71 and a quick ratio of 0.71.

Insider Transactions at Getty Images

In other Getty Images news, CEO Craig Warren Peters sold 31,298 shares of the firm’s stock in a transaction that occurred on Wednesday, December 24th. The shares were sold at an average price of $1.27, for a total value of $39,748.46. Following the completion of the transaction, the chief executive officer owned 1,215,438 shares of the company’s stock, valued at $1,543,606.26. This trade represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders have sold 74,919 shares of company stock worth $95,147. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Getty Images

A number of large investors have recently modified their holdings of GETY. Cerity Partners LLC acquired a new stake in shares of Getty Images in the second quarter valued at $32,000. BNP Paribas Financial Markets grew its stake in 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 purchasing an additional 11,066 shares in the last quarter. Creative Planning purchased a new stake in Getty Images during the 2nd quarter worth about $75,000. The Manufacturers Life Insurance Company increased its holdings in Getty Images by 16.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,458 shares of the company’s stock worth $82,000 after purchasing an additional 6,856 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in Getty Images in the 4th quarter valued at about $91,000. Hedge funds and other institutional investors own 45.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GETY. Weiss Ratings restated a “sell (d)” rating on shares of Getty Images in a research note on Thursday, January 22nd. Citigroup cut their price objective on Getty Images from $1.85 to $0.85 and set a “neutral” rating on the stock in a report on Monday, February 23rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.78.

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.