Getty Images (NYSE:GETY) Earns Outperform Rating from Wedbush

Getty Images (NYSE:GETY)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued on Tuesday,Benzinga reports. They presently have a $7.00 target price on the stock.

A number of other analysts have also recently commented on the stock. Citigroup lowered their price objective on shares of Getty Images from $1.85 to $0.85 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Zacks Research cut Getty Images from a “hold” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Getty Images in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $3.78.

Getty Images Stock Down 5.8%

Shares of NYSE GETY opened at $0.76 on Tuesday. Getty Images has a 52-week low of $0.67 and a 52-week high of $3.21. 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 has a market cap of $318.76 million, a P/E ratio of -1.53 and a beta of 1.94. The firm has a 50 day moving average price of $0.83 and a 200 day moving average price of $1.19.

Getty Images (NYSE:GETY) last posted 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 firm had revenue of $226.57 million during the quarter, compared to analyst estimates of $238.90 million. Getty Images had a negative return on equity of 25.05% and a negative net margin of 21.00%. Analysts expect that Getty Images will post -0.02 EPS for the current year.

Insider Buying and Selling

In other Getty Images news, insider Grant Farhall sold 42,022 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $0.78, for a total value of $32,777.16. Following the sale, the insider owned 288,190 shares in the company, valued at approximately $224,788.20. The trade was a 12.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig Warren Peters sold 167,403 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $0.78, for a total value of $130,574.34. Following the transaction, the chief executive officer directly owned 1,289,548 shares of the company’s stock, valued at approximately $1,005,847.44. This trade represents a 11.49% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 391,563 shares of company stock worth $305,419. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Koch Inc. increased its stake in 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 buying an additional 34,525,639 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Getty Images during the 4th quarter worth about $3,071,000. Millennium Management LLC grew its holdings in shares of Getty Images by 160.7% in the 4th quarter. Millennium Management LLC now owns 1,530,821 shares of the company’s stock valued at $2,051,000 after acquiring an additional 943,567 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Getty Images by 43.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,434,545 shares of the company’s stock valued at $4,041,000 after acquiring an additional 742,008 shares in the last quarter. Finally, Callodine Capital Management LP acquired a new stake in shares of Getty Images in the fourth quarter valued at about $670,000. Institutional investors 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.