Getty Images (NYSE:GETY) Shares Gap Up – Here’s Why

Getty Images Holdings, Inc. (NYSE:GETY) gapped up before the market opened on Tuesday . The stock had previously closed at $2.57, but opened at $3.70. Getty Images shares last traded at $3.62, with a volume of 37,283,006 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GETY shares. JPMorgan Chase & Co. restated an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. Macquarie lifted their price target on Getty Images from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.61.

Getty Images Stock Performance

The company has a debt-to-equity ratio of 1.84, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $1.34 billion, a PE ratio of 27.17 and a beta of 1.93. The stock has a 50 day moving average of $2.94 and a two-hundred day moving average of $3.35.

Insider Transactions at Getty Images

In related news, CFO Jennifer Leyden sold 12,342 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total value of $27,152.40. Following the completion of the transaction, the chief financial officer now directly owns 261,034 shares in the company, valued at approximately $574,274.80. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 74,175,262 shares of the company’s stock, valued at $182,471,144.52. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,266,876 shares of company stock valued at $10,629,182 over the last three months. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Getty Images

Institutional investors have recently added to or reduced their stakes in the business. CIBC Asset Management Inc acquired a new position in Getty Images in the second quarter valued at $36,000. Intech Investment Management LLC acquired a new stake in Getty Images during the third quarter worth about $44,000. Aigen Investment Management LP acquired a new stake in Getty Images during the third quarter worth about $48,000. Principal Financial Group Inc. acquired a new stake in Getty Images during the second quarter worth about $44,000. Finally, Verition Fund Management LLC acquired a new stake in Getty Images during the third quarter worth about $96,000. 45.75% of the stock is currently owned by institutional investors and hedge funds.

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.