Getty Images Holdings, Inc. (NYSE:GETY) Sees Significant Drop in Short Interest

Getty Images Holdings, Inc. (NYSE:GETY) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 5,930,000 shares, a decrease of 7.9% from the November 15th total of 6,440,000 shares. Based on an average daily trading volume, of 369,800 shares, the short-interest ratio is currently 16.0 days. Approximately 3.1% of the company’s shares are short sold.

Insider Activity

In related news, major shareholder Neuberger Berman Group Llc sold 4,100,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $2.46, for a total transaction of $10,086,000.00. Following the completion of the sale, the insider now directly owns 74,175,262 shares of the company’s stock, valued at approximately $182,471,144.52. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Kjelti Wilkes Kellough sold 8,070 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $3.61, for a total transaction of $29,132.70. Following the completion of the transaction, the general counsel now directly owns 258,630 shares in the company, valued at $933,654.30. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,269,927 shares of company stock valued at $10,739,630 in the last 90 days. Company insiders own 12.30% of the company’s stock.

Institutional Inflows and Outflows

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

Getty Images Trading Down 2.3 %

GETY opened at $2.57 on Wednesday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.79 and a current ratio of 0.79. Getty Images has a one year low of $2.54 and a one year high of $5.77. The company has a market cap of $1.06 billion, a P/E ratio of 21.42 and a beta of 1.86. The business’s 50-day simple moving average is $3.40 and its 200-day simple moving average is $3.48.

Wall Street Analysts Forecast Growth

Separately, Macquarie raised 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.

Getty Images Company Profile

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.