Getty Images (NYSE:GETY) Price Target Cut to $4.50 by Analysts at Benchmark

Getty Images (NYSE:GETY) had its target price cut by Benchmark from $6.00 to $4.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price indicates a potential upside of 100.45% from the stock’s previous close.

Several other brokerages also recently weighed in on GETY. JPMorgan Chase & Co. restated an “underweight” rating on shares of Getty Images in a report on Wednesday, December 18th. Macquarie restated a “neutral” rating and set a $3.75 price target on shares of Getty Images in a report on Wednesday, January 8th. Finally, Wedbush restated an “outperform” rating and set a $7.70 price target on shares of Getty Images in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.24.

Getty Images Price Performance

GETY opened at $2.25 on Tuesday. The stock’s 50-day moving average price is $2.44 and its 200 day moving average price is $2.99. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.84. Getty Images has a 12-month low of $1.90 and a 12-month high of $5.09. The firm has a market cap of $922.86 million, a price-to-earnings ratio of 18.71 and a beta of 1.97.

Getty Images (NYSE:GETY) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05). Getty Images had a return on equity of 6.42% and a net margin of 5.91%. The company had revenue of $247.30 million for the quarter, compared to analysts’ expectations of $245.50 million. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Getty Images will post 0.08 earnings per share for the current year.

Insider Activity

In related news, CEO Craig Warren Peters sold 32,753 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $2.20, for a total transaction of $72,056.60. Following the transaction, the chief executive officer now owns 1,212,648 shares in the company, valued at $2,667,825.60. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jennifer Leyden sold 12,342 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 261,034 shares in the company, valued at $574,274.80. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,521 shares of company stock worth $155,146. 12.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in Getty Images during the 4th quarter worth approximately $27,000. Aristeia Capital L.L.C. acquired a new stake in Getty Images during the 4th quarter worth approximately $28,000. Ameriprise Financial Inc. acquired a new stake in Getty Images during the 4th quarter worth approximately $28,000. Virtu Financial LLC acquired a new stake in Getty Images during the 4th quarter worth approximately $33,000. Finally, Oxford Asset Management LLP acquired a new stake in Getty Images during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors 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.