Getty Images (NYSE:GETY) Shares Gap Up – Time to Buy?

Shares of 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 traded.

Key Headlines Impacting Getty Images

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

• Positive Sentiment: Getty Images announced a multi-year agreement with OpenAI to display its licensed visual content inside ChatGPT, which could create a meaningful new revenue stream and expand the company’s reach in AI-driven discovery. OpenAI and Getty Images Team Up to Bring Real, Licensed Photos to ChatGPT
• Positive Sentiment: Multiple reports noted a sharp stock reaction following the OpenAI deal, suggesting the market sees the partnership as a potentially transformative catalyst for Getty Images. Getty Images Shares Jump Following OpenAI Partnership
• Neutral Sentiment: VP Daine Marc Weston sold 2,508 shares at an average price of $1.30, but the company said the sale was to cover tax withholding tied to equity vesting rather than a discretionary insider exit. Insider trade disclosure

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GETY shares. Weiss Ratings cut shares of Getty Images from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Wedbush reiterated an “outperform” rating and issued a $7.00 target price on shares of Getty Images in a research report on Tuesday, May 12th. Finally, Zacks Research raised Getty Images from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.78.

Getty Images Stock Performance

The company has a market cap of $412.67 million, a P/E ratio of -3.73 and a beta of 2.03. The business has a 50 day moving average price of $0.87 and a two-hundred day moving average price of $1.01. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.76 and a current ratio of 0.76.

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

Insider Buying and Selling at Getty Images

In related news, insider Michael Teaster sold 38,100 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $0.79, for a total value of $30,099.00. Following the sale, the insider directly owned 488,862 shares of the company’s stock, valued at $386,200.98. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Getty Images

Hedge funds and other institutional investors have recently modified their holdings of the business. Koch Inc. lifted its holdings in shares of Getty Images by 42.8% during the fourth 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 last quarter. Callodine Capital Management LP raised its stake in Getty Images by 20.0% during the first quarter. Callodine Capital Management LP now owns 600,000 shares of the company’s stock valued at $476,000 after buying an additional 100,000 shares during the last quarter. Alpine Global Management LLC bought a new stake in Getty Images in the fourth quarter worth $98,000. Ionic Capital Management LLC purchased a new stake in shares of Getty Images in the fourth quarter worth $248,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Getty Images by 103.2% in the third 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 during the last quarter. 45.75% of the stock is owned by hedge funds and other institutional investors.

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.