Getty Images (NYSE:GETY) Sets New 12-Month Low – Here’s What Happened

Shares of Getty Images Holdings, Inc. (NYSE:GETY) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.60 and last traded at $2.67, with a volume of 31443 shares changing hands. The stock had previously closed at $2.69.

Analyst Ratings Changes

Separately, Macquarie increased their target price on shares of Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a report on Wednesday, November 13th.

Getty Images Trading Down 1.5 %

The business’s 50 day moving average is $3.46 and its two-hundred day moving average is $3.50. The firm has a market capitalization of $1.09 billion, a P/E ratio of 22.42 and a beta of 1.86. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.84.

Insider Activity

In other news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of Getty Images stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $2.46, for a total value of $10,086,000.00. Following the transaction, the insider now directly owns 74,175,262 shares of the company’s stock, valued at $182,471,144.52. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Kjelti Wilkes Kellough sold 8,070 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $3.61, for a total value of $29,132.70. Following the completion of the sale, the general counsel now owns 258,630 shares of the company’s stock, valued at $933,654.30. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,269,927 shares of company stock worth $10,739,630. Corporate insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Getty Images

Large investors have recently made changes to their positions in the business. Byrne Asset Management LLC grew its position in Getty Images by 95.7% during the second quarter. Byrne Asset Management LLC now owns 9,200 shares of the company’s stock valued at $29,000 after purchasing an additional 4,500 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Getty Images during the 2nd quarter worth about $33,000. CIBC Asset Management Inc acquired a new position in shares of Getty Images during the 2nd quarter worth $36,000. Principal Financial Group Inc. bought a new position in Getty Images during the second quarter valued at about $44,000. Finally, Intech Investment Management LLC bought a new stake in shares of Getty Images during the 3rd quarter worth about $44,000. Institutional investors and hedge funds own 45.75% of the company’s stock.

About Getty Images

Getty Images Holdings, Inc offers creative and editorial visual content solutions in the Americas, Europe, the Middle East, Africa, and Asia-Pacific. Its products include Getty Images that offers creative and editorial content including stills, music and video which focuses on corporate, agency, and media customers; iStock.com, an e-commerce offering where customers have access to creative stills and video; Unsplash.com, a platform offering free stock photo downloads and paid subscriptions targeted to the high-growth prosumer and semi-professional creator segments; and Unsplash+ that provides access to unique model released content with expanded legal protections.